Airwallex EMEA sees strong momentum with 152 percent revenue increase YoY

• $90B in annualised transaction volume globally, with EMEA regional volume increasing 125 percent YoY

• Strong UK growth continues with 157 percent revenue increase YoY, as Airwallex adds new customers and partners including Moss and Plum Guide to its portfolio

LONDON, JULY 22, 2024 – Airwallex, a leading global payments and financial platform for modern businesses, continues to scale rapidly in the region, with a 152 percent increase in revenue year-on-year (YoY*) across Europe, Middle East and Africa (EMEA). It also grew its transaction volume YoY by 125 percent, amid a challenging macroeconomic environment for the fintech sector. 

Airwallex’s regional growth demonstrates its commitment to supporting businesses of all sizes to grow without borders. Globally, Airwallex’s customer base has swelled to over 100,000 businesses, signaling an increased need for more global payments and financial solutions to better serve small and medium-sized businesses (SMBs) and enterprise customers. Over 50 percent of EMEA customers use more than one of Airwallex’s products - ranging from business accounts, expense management, treasury management as well as virtual and physical cards. By partnering with Airwallex, businesses can scale into new markets to reach new customers and achieve greater supply chain efficiency by transacting like a local as they resource their company globally.

Airwallex has also recorded strong growth in revenue and transaction volume in the UK specifically, at 157 percent and 136 percent respectively. This follows a number of new customer and partner wins including Moss and Plum Guide, as Airwallex continues to meet the demands of UK businesses looking to expand internationally. 

The company’s EMEA team has grown to more than 150 employees, with offices in London, Amsterdam, Vilnius and Tel Aviv. As part of its EMEA growth strategy, Airwallex recently hired its first UAE-based employee, will soon add several employees in France and also plans to further expand its team in the Netherlands. Both France and the Netherlands present key growth markets for Airwallex, as the business sets to accelerate its footprint across mainland Europe, with recent wins including Bird, the Amsterdam-based global communications platform. 

Pranav Sood, Executive GM, EMEA at Airwallex, said “Against a tough macro environment that has proved challenging for many in our sector, Airwallex’s consistent growth in EMEA is a testament to our strong product market fit and innovative product stack. Our customers are seeing significant value from our products and we’re committed to continuing to invest in our growth in this important market. ​​Having a best-in-class team is essential to continue this success, so I’m excited to welcome several talented new hires across Europe and the Middle East to set us up for another huge year.”

Airwallex was founded in Melbourne in 2015, and today is headquartered in Singapore. The company has since grown to 23 locations globally and currently employs over 1,500 people, with plans to hire 300 people by the end of 2024. 

END

NOTES TO MEDIA

For further information

If you have any questions or would like to request further information, please contact [email protected].

About Airwallex

Airwallex is a leading global financial platform for modern businesses, offering trusted solutions to manage everything from payments, treasury, and spend management to embedded finance. With our proprietary infrastructure, Airwallex takes the friction out of global payments and financial operations, empowering businesses of all sizes to unlock new opportunities and grow beyond borders. Proudly founded in Melbourne, Airwallex supports over 100,000 businesses globally and is trusted by brands such as Brex, Rippling, Navan, Qantas, SHEIN and many more. For more information, visit http://www.airwallex.com.

Airwallex (UK) Limited (Company No. 10103420) is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (firm reference number 900876).