Airwallex, the Australia-founded leading financial platform for modern businesses, has ranked in the top 10 Most Innovative Companies in Australia in the Banking, Superannuation and Financial Services category of the Australian Financial Review (AFR) awards.

Announced at a gala ceremony in Sydney last night, Airwallex was commended for category-disrupting innovation, including the launch of Airwallex Yield.

An Australian-first product, Airwallex Yield enables customers to earn an attractive return on multi-currency funds with no minimum lock-up period. Launched in November 2023 to wholesale customers, Airwallex Yield was expanded to all Australian businesses in July this year after becoming the first payments company to be granted an Australian Financial Services Licence for retail investment products by the Australian Securities and Investment Commission (ASIC).

Also this year, the company launched Airwallex for Startups, which has fast become Australia’s most comprehensive initiative for local startups seeking to accelerate their growth. More than 1,200 startups signed up to benefit from product discounts, mentoring and networking opportunities.

Jack Zhang, CEO and Co-founder at Airwallex said the accolade was testament to the efforts of the Airwallex team.

“Innovation is in our DNA at Airwallex and we enjoy challenging ourselves to create products and solutions that haven’t existed before. Being recognised in our founding market is particularly special.

“I’m proud of the Airwallex team for pushing boundaries in search of better outcomes for our customers and partners. Together, we seek to create transformational change to help businesses grow.”

In August, Airwallex surpassed more than US$100 billion in annual processing volume, up 73 percent year-on-year. In addition, its annualised revenue run rate exceeded US$500 million.

Airwallex has 1,600 employees across 23 offices globally.