Airwallex pledges over USD $56m for social impact scheme

Airwallex, an Australian-born financial platform company, has announced a new initiative called Airwallex Impact to support emerging entrepreneurs and startups.

Airwallex has committed 1% of its equity, valued at over USD $56 million, to the Pledge 1% movement. This pledge signifies a long-term dedication to corporate philanthropy, incorporating employee time, profits, and products into its social impact framework.

"As Airwallex enters our 10th year as a business, the time is right to build on our community initiatives to date and commit to an enduring impact program," said Airwallex CEO and Co-founder Jack Zhang. "Purpose is at the core of Airwallex's mission — we exist to help businesses thrive, and this work is a natural extension of our dedication to innovation and economic development in the countries where we operate. I'm excited for our company to join the Pledge 1% community."

The initiative includes partnerships with educational institutions. Airwallex has made a significant contribution to the University of Melbourne, with an AU$3 million donation funding scholarships for 43 students, highlighting a substantial portion for female and international students. Further, an AU$150,000 donation supports an additional 65 students with financial aid for their academic expenses.

From 2025, Airwallex's workforce of over 1,600 will dedicate three days annually to volunteer work, with two of these days aligned with Airwallex Impact initiatives. The remaining day can support any not-for-profit organisation of the employee's choosing. This commitment translates to approximately 1% of employee time devoted to service in local communities.

Atlassian and Pledge 1% Co-Founder Scott Farquhar praised the effort, saying, "We founded Pledge 1% in 2015 to encourage companies to bake philanthropy into their DNA. I appreciate the model Jack and team are setting up to apply the social impact lens to the breadth of their business, to serve as a catalyst for innovation and entrepreneurship and to empower Airwallex employees to be part of the movement."

Pledge 1% CEO Amy Lesnick offered further commendation, stating, "We are thrilled to welcome Airwallex into the Pledge 1% community of businesses working together to be force multipliers for corporate philanthropy. Airwallex's equity commitment is critical as it will tie company success to long-term philanthropic engagement and impact. As Airwallex grows, so will its funding and its ability to affect change."

Airwallex's social impact program supports the Airwallex for Startups initiative, which launched in September 2023 and has already engaged over 2,000 startups in regions like Australia, Singapore, and Hong Kong, with plans to expand to New Zealand. The initiative provides resources for startup founders, including networking events and other entrepreneurial aids.

In 2025, Airwallex plans to introduce discounted products for select non-profit organisations, further aligning their financial offerings with community needs.

Zhang also commented on the importance of knowledge sharing within their philanthropic plans: "Airwallex's people are among the brightest and boldest across a range of disciplines. Their expertise has been core to our growth, and the learnings they've amassed as part of a fast-growth startup are immense. Beyond building our own company, there's great rewards and joy to be found in paying that forward to help the entire ecosystem to flourish."