Airwallex: Turning 1% Pledge into a Fintech Foundation
Global payments infrastructure provider Airwallex has restructured its corporate philanthropy approach by committing 1% of its equity to support emerging entrepreneurs through a structured giving programme.
The move sees Airwallex join the Pledge 1% movement, an initiative that encourages companies to dedicate corporate resources to philanthropic causes.
The company will join other technology firms including workplace collaboration platform Atlassian, graphic design software provider Canva, and accommodation marketplace Airbnb in the pledge.
Endowment structure
The programme, called Airwallex Impact, establishes an endowment structure that will grow alongside the company's valuation, creating a sustainable model for ongoing corporate philanthropy.
This approach differs from traditional corporate giving by linking the fund's growth to the company's success.
The commitment builds on Airwallex's existing philanthropic activities, which include an AU$3m (US$1.9m) donation to the University of Melbourne that has funded 43 student scholarships.
Of these scholarship recipients, 40% identify as female and 56% are international students. The company has provided an additional AU$150,000 for financial assistance to 65 students for non-tuition related costs.
“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,” says Airwallex CEO and Co-founder Jack Zhang.
Global startup programme expansion
Airwallex's startup programme, which launched in September 2023, has attracted more than 2,000 participants across Australia, Singapore and Hong Kong.
The scheme provides early-stage companies with access to Airwallex's cross-border payment infrastructure at reduced rates, alongside networking events and partner benefits.
Through its Impact Programme, the company plans to expand these initiatives globally. The programme will include employee mentoring and product discounts for non-profit organisations.
Starting in 2025, Airwallex's 1,600 employees will dedicate three days annually to volunteering, with two days focused on Impact Programme initiatives and one day for employee-chosen causes.
The company has demonstrated its commitment to startup support through partnerships with technology incubators. It has provided mentoring through Australia's Techstars programme and issued grants to early-stage artificial intelligence and fintech companies.
Airwallex has also partnered with Sydney-based AI Build Club to support Australia's artificial intelligence development community.
Corporate giving evolution
The pledge has received support from Atlassian co-founder Scott Farquhar, who established Pledge 1% in 2015. “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,” says Scott.
“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”
Pledge 1% CEO Amy Lesnick emphasises the importance of equity commitments in corporate giving: “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.”
The initiative has gained recognition from industry bodies. Janine Hirt, CEO of Innovate Finance, the UK fintech industry body, says: “With its commitment to Pledge 1% and the launch of Airwallex Impact, Airwallex is exemplifying how fintechs can be a force for good across the economy and society.”
Jack explains the programme's broader impact potential: “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.”
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