Fintech
Fintech Airwallex reports 84% revenue growth.
Staff reporter
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Photo by Jonas Leupe via Unsplash.
Operations in Australia and New Zealand saw revenue growth of 93%.
Financial technology (fintech) payment platform Aereiwallex recorded global revenue growth of 84% in fiscal year 2024.
In a press release, Airwallex said it saw global transaction values grow 68% year-on-year (YoY) over the same period.
In Australia and New Zealand, Airwallex revenues grew 93% year-on-year. This was driven by the launch of Airwallex Yield, which reportedly offers double the rates of the big banks in the ANZ region.
“Despite a challenging macroeconomic environment, our continued growth in Australia and New Zealand is evidence of our product’s strong suitability for modern businesses looking to grow,” said Kai Wu, Chief Revenue Officer and APAC Executive General Manager at Airwallex.
Wu said Airwallex will continue to expand its presence in Australia and New Zealand.
Airwallex has become cash flow positive in 2023. It now processes more than US$90 billion in annualized transaction volume.
The company now employs more than 1,500 people across 23 locations worldwide, including 200 across Sydney and Melbourne services.
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