Airwallex has reported a 271% increase in revenue for its
Europe, Middle East, and Africa (EMEA) unit in Q3 2024 compared to the same
period in 2023. Transaction volumes also rose by 145% during this time.
The company has expanded its operations across the region,
opening a new office in Paris and making its first hires in Abu Dhabi and
Dubai. It also increased staffing in Tel Aviv and Vilnius and appointed senior
executives in London and Amsterdam. The EMEA team now exceeds 150 employees
from over 38 nationalities.
Global Processing Volume Surpasses $100 Billion
Globally, Airwallex surpassed $100 billion in annual
processing volume, marking a 60% year-on-year increase. Its products, including
payments , FX, payouts, and issuing, contributed to an annual run rate revenue
of over $500 million.
According to the press release, the company recently launched Airwallex Impact, a global
social initiative supported by a 1% equity commitment valued at $56 million.
The program also includes pledges of 1% of employee time, profits, and products
for philanthropic efforts.
Simon Ellis, Head of Operations at Airwallex EMEA, said
“Airwallex is in growth mode. We are investing in local strength across the
EMEA region in order to fuel our ambition to drive success for our 100,000+
customers across the world.”
Multicurrency Feature Eases Accounting
Meanwhile, Airwallex
has integrated QuickBooks Online, allowing customers to import transaction
data directly into QuickBooks as reported by Finance Magnates. This integration
eliminates manual data entry and streamlines accounting reconciliation.
Customers can sync card, FX, payment, and transfer
transactions across different currency balances using QuickBooks’ Multicurrency
feature. The OAuth connection ensures secure automated syncing of transactions
between QuickBooks and Airwallex, reducing errors and improving financial
management efficiency.
This integration also complements existing QuickBooks
features for Bill Pay and Expense Management. In addition, Airwallex has
integrated with other accounting platforms, such as Xero, Netsuite, and Sage,
to further enhance its financial management capabilities.
Airwallex has reported a 271% increase in revenue for its
Europe, Middle East, and Africa (EMEA) unit in Q3 2024 compared to the same
period in 2023. Transaction volumes also rose by 145% during this time.
The company has expanded its operations across the region,
opening a new office in Paris and making its first hires in Abu Dhabi and
Dubai. It also increased staffing in Tel Aviv and Vilnius and appointed senior
executives in London and Amsterdam. The EMEA team now exceeds 150 employees
from over 38 nationalities.
Global Processing Volume Surpasses $100 Billion
Globally, Airwallex surpassed $100 billion in annual
processing volume, marking a 60% year-on-year increase. Its products, including
payments , FX, payouts, and issuing, contributed to an annual run rate revenue
of over $500 million.
According to the press release, the company recently launched Airwallex Impact, a global
social initiative supported by a 1% equity commitment valued at $56 million.
The program also includes pledges of 1% of employee time, profits, and products
for philanthropic efforts.
Simon Ellis, Head of Operations at Airwallex EMEA, said
“Airwallex is in growth mode. We are investing in local strength across the
EMEA region in order to fuel our ambition to drive success for our 100,000+
customers across the world.”
Multicurrency Feature Eases Accounting
Meanwhile, Airwallex
has integrated QuickBooks Online, allowing customers to import transaction
data directly into QuickBooks as reported by Finance Magnates. This integration
eliminates manual data entry and streamlines accounting reconciliation.
Customers can sync card, FX, payment, and transfer
transactions across different currency balances using QuickBooks’ Multicurrency
feature. The OAuth connection ensures secure automated syncing of transactions
between QuickBooks and Airwallex, reducing errors and improving financial
management efficiency.
This integration also complements existing QuickBooks
features for Bill Pay and Expense Management. In addition, Airwallex has
integrated with other accounting platforms, such as Xero, Netsuite, and Sage,
to further enhance its financial management capabilities.
This post is originally published on FINANCEMAGNATES.
