Global fintech firm Airwallex has achieved a major financial milestone, surpassing US$1 billion in annualised run rate (ARR) revenue in October.
The company said it took nine years to reach its first US$500 million in ARR, while the next US$500 million was achieved in just over a year.
Airwallex attributed the accelerated growth to rising adoption among businesses using multiple products, with about half of its customers now doing so, and the increasing number of “born-global” companies expanding across markets from day one.
CEO Jack Zhang said the milestone is tangible proof that businesses are moving beyond outdated financial systems.
“It represents the trust that our customers place in us and our ability to address the needs of modern businesses as they scale across markets, currencies, and borders,”
he said in a blog post.
Among its clients is Turing, a San Francisco-based AI research accelerator that works with more than four million global experts.
By consolidating its global payouts through Airwallex, Turing was able to replace multiple regional providers, speed up payments via local rails, and reduce operational costs through automation.
Airwallex’s revenue is now more geographically diversified, with the Americas and EMEA contributing 35% compared with almost none three years ago.
The firm plans to deepen its presence in Europe, North America, and key Asian markets while moving further upmarket to serve larger and more complex enterprises.
Zhang said Airwallex’s decade-long investment in building proprietary financial infrastructure now allows it to build meaningful value with AI.
“Fintechs that have invested in real infrastructure – licenses, payment networks, compliance, and data at scale – are best positioned to win the AI race in the CFO’s office,”
he said.
At its current annual growth rate of about 90%, Airwallex expects to double its ARR and surpass US$2 billion within the next 12 months.
Zhang added that the next decade will focus on building brand equity and earning the trust of businesses globally, noting that brand creates “the deepest kind of compound value” as the company continues to expand worldwide.
Featured image: Edited by Fintech News Singapore, based on image by Freepik
