Airwallex reports growth & launches new initiatives in APAC

Airwallex has reported notable year-on-year growth across the Asia Pacific region, with significant increases in revenue and transaction volume in Singapore.

In Singapore, the company achieved a 157% increase in revenue and a 151% rise in transaction volume for the third quarter. Across the broader Asia Pacific region, Airwallex saw an 83% increase in revenue and a 49% growth in transaction volume compared to the previous year.

Airwallex has expanded its Airwallex for Startups programme to Singapore in June of this year. This initiative provides local startups with networking opportunities, exclusive product offers, and workshops covering topics from artificial intelligence to customer relationship management. As part of the programme, Airwallex awarded the S$10,000 Level-Up Business Grant to the biophilic design startup All Naturethings, supporting its future growth.

In November, Airwallex launched its global social impact programme, Airwallex Impact, becoming the first fintech company based in Singapore to join the global Pledge 1% initiative. Airwallex has pledged 1% of its equity, currently valued at USD $56 million, for philanthropic purposes. Additionally, it has committed to donating 1% of its employee time, profits, and products to benefit the innovation community.

The company has introduced a product suite named Airwallex Spend, which includes Corporate Cards, Expense Management, and Bill Pay, designed to address issues with outdated and fragmented spend management systems. This suite is now available in Australia, Singapore, and Hong Kong.

Airwallex has entered a multi-year partnership with McLaren Racing, aimed at enhancing McLaren's payment infrastructure and reducing transaction costs through streamlined international payment processes. In September, in conjunction with the F1 Grand Prix, Airwallex launched its "Shifted Perspectives" campaign in Singapore, featuring a unique 3D sculpture of team driver Lando Norris.

The company's customer base has seen expansion in Singapore, with new clients including Dreamcore, Igloohome, Little Blossom, and Wine Kin. This adds to an established list of clients such as Kris+ by Singapore Airlines, EU Holidays, and Saturday Club, among others.