Fintech Airwallex records 84% revenue growth

Its Australia and New Zealand business saw revenue grow by 93%.

Financial technology (fintech) payments platform Airwallex recorded an 84% global revenue growth so far in FY2024.

In a press release, Airwallex said that it has seen global transaction values grow by 68% year-on-year (YoY) over the same period.

In Australia and New Zealand, Airwallex’s revenue has grown by 93% YoY. This was driven by the launch of Airwallex Yield, which reportedly offers double the rates of big banks in the ANZ region.

“Despite a tough macroeconomic environment, our continued growth across Australia and New Zealand is testament to our strong product fit for modern businesses seeking to scale,” said Kai Wu, chief revenue officer and APAC executive general manager, Airwallex.

Wu said that Airwallex will continue to expand its presence in Australia and New Zealand.

Airwallex became cash flow positive in 2023. It now processes more than US$90b in annualised transaction volume.

The company now employs over 1,500 people across 23 locations globally, of which 200 are in its Sydney and Melbourne services.