Airwallex Hong Kong sees strong growth momentum with 207% revenue increase

HONG KONG, 3 May, 2023 - Airwallex, a leading global fintech platform, is excited to announce the launch of its Go Global campaign in Hong Kong, unlocking opportunities for SMEs, ecommerce businesses and start-ups to scale and expand internationally. Airwallex Hong Kong’s continued growth and development in the market is evidenced by its strong business momentum in the first quarter of 2023, recording a 207% increase in gross revenue and a 142% growth in customers, compared to Q1 2022.

“The pandemic impacted many local businesses. Restrictions on travel and in-person engagements meant that many had to find different ways to ensure they can continue to operate,” said Arnold Chan, General Manager of Hong Kong & Southeast Asia, Airwallex. “Hong Kong Kong was one of our fastest growing markets last year, and we are pleased to have been able to support so many local businesses with their ambitions to grow beyond borders.”

Along with the strong growth in customer and gross revenue numbers, Airwallex Hong Kong's total transaction volume also saw a 167% increase in Q1 of 2023, compared to the same period last year, signifying an upward momentum of digital transactions and payments among businesses in Hong Kong.

“About 25% of our Hong Kong customers use Airwallex as their primary business account. What this means is that more and more businesses are willing to explore alternative financial solutions that can enable more transparency, speed and cost-efficiency,” Arnold added. “This is encouraging to see, as more and more companies recognize how fintech can help them better manage their financial operations and processes to achieve their business goals.”

To continue promoting growth for Hong Kong businesses in the year ahead, Airwallex’s Go Global campaign aims to support the city's local SMES and startups on their international expansion. The campaign identified new pain points businesses are facing in the post-pandemic world, from booking flights and hotels during business travels, to identifying new markets for revenue growth or efficiently managing operational logistics, Airwallex has teamed up with some of its key local partners in Hong Kong to provide exclusive offers that can better help businesses navigate the new normal.

With support from some of its key partners in Hong Kong, including FedEx, Google Ads, Klook and The Executive Centre, Airwallex aims to empower businesses to continue on its growth journey, and to expand globally.

“We are excited to be partnering with like-minded partners who share the same passion and commitment towards supporting the local Hong Kong business community,” said Arnold. “As we continue to grow in Hong Kong and globally, we aim to continue to help businesses in Hong Kong reach new heights.”

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About Airwallex

Airwallex is a global payments and financial platform for modern businesses. We remove the unnecessary friction and cost inherent in the traditional financial system to help entrepreneurs achieve their global ambitions. Leading companies around the world trust Airwallex to manage everything from payments, treasury, and spend to embedded finance - all in one single platform.

Our purpose is to connect entrepreneurs, business builders, makers and creators with opportunities in every corner of the world. With an international footprint across the Asia-Pacific, Europe and North America, we empower businesses to grow without borders.

For more information, please visit www.airwallex.com