SINGAPORE, 16 December 2024 – Airwallex, the leading global payments and financial platform for modern businesses, has announced remarkable year-on-year (YoY) growth in the Asia-Pacific (APAC) region. In the third quarter, the company achieved an 83% revenue increase and a 49% rise in transaction volume YoY across APAC. Globally, revenue and transaction volumes rose by 73% and 60% YoY, respectively, underscoring its rapid expansion and success worldwide.
Airwallex’s ongoing success across key APAC markets—including Australia, Singapore, Hong Kong, Malaysia, New Zealand, and mainland China—highlights the strength of its innovative product offerings and market adaptability.
APAC: A Region of Strategic Importance
Founded in Melbourne in 2015, Airwallex has deep ties to the APAC region. In 2024, the company launched several successful initiatives that continue to drive its strong performance in the region.
Empowering Startups with Airwallex for Startups
Initially launched in Hong Kong in September 2023, the Airwallex for Startups program has since expanded to Australia, Singapore, and New Zealand in 2024. To date, the program has attracted over 2,000 startups, offering them access to networking events, mentorship, and exclusive product benefits. Plans for further global expansion are set for 2025, reflecting Airwallex’s commitment to fostering entrepreneurship.
Growing Funds with Airwallex Yield
After a successful launch to wholesale customers in Australia in 2023, Airwallex Yield became available to all Australian customers in July 2024. This launch marked a milestone, as Airwallex became the first major payments company to secure an Australian Financial Services Licence from ASIC for investment products. The solution allows businesses to grow funds in AUD and USD at competitive rates. Moreover, Airwallex has gained a license from Hong Kong’s Securities and Futures Commission to offer asset management services, with plans to introduce Airwallex Yield in Hong Kong in early 2025.
Redefining Financial Management with Airwallex Spend
Airwallex Spend offers a comprehensive suite of financial tools, including Borderless Cards, Expense Management, and Bill Pay. Designed as a modern alternative to traditional, fragmented spend management systems, the product empowers businesses to streamline their finances with a global platform powered by AI-driven automation and advanced controls.
Industry Recognition and Global Impact
Airwallex’s innovation has earned recognition across APAC. In 2024, the company featured on the Australian Financial Review’s Most Innovative Companies list and the Top 10 Fortune Fintech Innovators Asia list, cementing its reputation as a trailblazer in the payments industry.
Arnold Chan, General Manager for APAC, expressed pride in the company’s achievements, stating, “The APAC region remains integral to Airwallex’s success story and serves as a launchpad for many of our flagship products and programs, including Airwallex for Startups and Airwallex Yield. Our goal is to support businesses in eCommerce, travel, and fintech as they expand into international markets. In 2025, we look forward to entering new markets, including Malaysia and South Korea, while continuing to help businesses thrive in the global economy.”
Expanding Footprint and Commitment to Social Impact
In August 2024, Airwallex revealed that it had processed over USD 100 billion in annualised transaction volume and surpassed USD 500 million in annualised revenue run rate. In November, the company launched Airwallex Impact, its social impact initiative, pledging 1% of its equity—valued at USD 56 million—to philanthropic causes. Additionally, it committed 1% of its time, product offerings, and profit to support global economic development, entrepreneurs, and innovators.
Scaling Operations and Growing the Team
Airwallex expanded its APAC team by 160 employees in 2024, bringing its global workforce to over 1,600 across 23 offices. The company plans to continue scaling its operations in 2025, reflecting its confidence in sustained growth.
