Empowering 150,000 Businesses Globally
Our platform is now supporting more than 150,000 businesses around the world, marking a 50 percent increase from the previous year. This milestone underscores our commitment to building solutions that power international growth and operational agility for businesses of all sizes.
We’ve significantly expanded our infrastructure and continued launching product innovations to support this evolving customer base. New capabilities were added to our suite of services, helping companies manage their finances with greater control, speed, and insight.
Product Enhancements with Real Impact
2024 was a year of robust product development. Among the major additions was a yield-based financial product designed to help customers earn competitive returns on their multi-currency balances. We also introduced an entity management tool that simplifies oversight for companies operating in multiple regions. A new credit card product was rolled out to enhance expense management and provide more flexible payment options.
These new features were developed not in isolation but with extensive feedback and input from our users. Our focus has always been to deliver seamless, integrated tools that can scale alongside growing businesses.
Strengthening Strategic Partnerships
Our reach and relevance were further bolstered through new and deepened partnerships with industry leaders such as Brex, Shopify, Deel, WooCommerce, and Xero. These collaborations are essential to our mission of offering seamless financial solutions that integrate naturally into the platforms our customers already rely on.
These partnerships also allow us to deliver joint value propositions that extend far beyond simple integrations. Whether it’s providing embedded finance capabilities or improving reconciliation workflows, we are building connected ecosystems that reduce friction and increase productivity.
Growth Backed by Numbers
Our year was defined not just by ambition, but by execution. In August, we surpassed 100 billion US dollars in annualised transaction volume—an increase of 73 percent year-over-year. Not long after, our annual run rate revenue passed the 500 million dollar mark. By year-end, that figure reached 600 million dollars, and our transaction volume had climbed to 130 billion.
Even more telling was our surge in profitability. Quarterly year-over-year gross profit growth jumped from 40 percent in the first quarter to 78 percent by the fourth. More than half of our commercial gross profit now stems from our corporate card and payments offerings, indicating the strength and stickiness of these solutions.
Learning from Global Conversations
During 2024, we spent substantial time on the ground in key markets across the US, UK, Asia, and the Middle East. Meeting with customers, regulators, and investors provided direct insight into regional challenges and global opportunities. These conversations were instrumental in shaping our roadmap and helped affirm the strategic choices made over the past year.
We’ve seen firsthand that businesses in diverse industries are looking for tailored, compliant, and scalable financial solutions. These learnings inform how we deploy resources, prioritize product enhancements, and navigate new market entries.
Scaling the Financial Infrastructure
A cornerstone of our growth strategy lies in the scalability of our infrastructure. We hold one of the most comprehensive collections of financial service licenses globally, allowing us to operate across key jurisdictions including Australia, Singapore, the United Kingdom, Japan, New Zealand, Hong Kong, the European Economic Area, the United States, Canada, mainland China, Malaysia, Mexico, and Brazil.
This regulatory breadth provides the necessary foundation to offer consistent, high-quality services to businesses, regardless of where they operate. It also equips us to rapidly adapt to evolving compliance requirements while maintaining the integrity of our systems.
Laying Groundwork in Latin America
In 2024, we made strategic advancements in Latin America, particularly in Brazil and Mexico. A payment institution license was granted in Brazil, and we received approval to finalize the acquisition of a major local payment provider in Mexico. These moves mark a deliberate push into two of the region’s most important markets.
Brazil’s payment landscape is evolving quickly, with real-time infrastructure like PIX expected to power 40 percent of online transactions by 2026. Yet, business-to-business payments in the region remain fragmented and slow—especially for cross-border commerce. Our upcoming launch of services including PIX integration, card issuing, and payment acquiring aims to bridge these gaps and offer Brazilian businesses world-class financial tools.
Expanding the Product Universe
Building on the success of our yield product in Australia, we’re preparing to introduce it in Hong Kong, with additional markets planned for rollout later this year. These expansions are designed to help businesses optimize how their capital is managed across borders.
In parallel, we’re refining newer tools focused on spend and billing management. These additions complete a comprehensive suite that enables customers to control their finances from a single, integrated platform.
Every innovation we release is part of a deliberate strategy to eliminate the inefficiencies that have long hindered businesses from scaling internationally. With each product, we aim to collapse complexity and streamline global operations.
Growing Together with Customers
The common thread across all of 2024’s advancements is a commitment to growing in lockstep with our customers. Whether entering new regions or deepening our product offerings, our efforts are guided by real-world needs and tested by real user scenarios.
Feedback loops and co-development initiatives continue to drive innovation forward. By keeping close to the pain points of our users, we’re able to deliver practical solutions that help them move faster and operate smarter.
Building an Enduring Platform
2024 was about laying a durable foundation for future growth. We have the products, infrastructure, and partnerships in place to support businesses through the next phase of digital transformation. The upcoming year promises further innovation, deeper expansion, and a renewed focus on customer success.
Laying the Groundwork for Long-Term Scale
Innovation remains the driving force behind the evolution of global finance. In 2024, we took major strides to not only enhance our existing platform but also redefine the way businesses engage with financial infrastructure. With an eye on the future, every move we made this year has been calibrated to create solutions that are intelligent, agile, and deeply integrated with the needs of modern enterprises.
Strategic Licensing for Global Flexibility
A key foundation of our continued growth has been the expansion and optimization of our licensing portfolio. With approvals secured across numerous jurisdictions—spanning North America, Europe, Asia Pacific, and Latin America—we’ve created a legal and operational backbone that enables real-time compliance, faster market entry, and seamless execution of cross-border services.
These licenses aren’t just regulatory checkboxes; they are the gateways that allow us to operate with confidence and agility. They enable us to build consistent, localized experiences that respect regional compliance demands while delivering the benefits of a unified financial ecosystem.
Breaking New Ground in Latin America
The Latin American market continues to emerge as a focal point for digital transformation in finance. In 2024, we made major headway in Brazil and Mexico—two of the region’s most influential economies. Our entry strategy has centered around building local capabilities through regulatory approval and acquisition.
Brazil, with its state-supported real-time payments network and growing digital adoption, offers fertile ground for reimagining B2B financial transactions. Meanwhile, the acquisition of a well-established payments provider in Mexico equips us with native infrastructure and operational insights that accelerate our ability to serve customers with precision and scale.
Introducing Real-Time Capabilities
One of the most anticipated developments in the region has been the integration of Brazil’s instant payment system. By aligning our infrastructure with domestic innovations such as PIX, we are laying the groundwork to offer real-time settlement, improved payment reconciliation, and enhanced access to digital financial services for businesses across the country.
As we expand service coverage, we are also planning to launch critical offerings including localized accounts, acquiring capabilities, and card issuing. These tools will allow businesses in Brazil and Mexico to digitize their operations and take full advantage of regional and global economic shifts.
New Horizons for Product Expansion
In parallel with geographic growth, we’ve focused heavily on extending our product suite. The yield product introduced in Australia is now being prepped for deployment in Hong Kong, with additional rollouts planned in EMEA and the Americas.
The spend and billing tools, launched in 2023, continued to evolve in 2024. By incorporating customer feedback, we’ve improved usability and added new features that support more efficient workflows. These enhancements help businesses manage expenses, automate billing cycles, and gain deeper visibility into their cash flow.
Together, these innovations contribute to a more complete and interconnected financial platform—one that can support the full lifecycle of business operations, from payments to reporting and compliance.
Meeting the Speed Demands of Global Commerce
Speed is a defining metric in financial operations. Whether it’s processing an international payroll or executing vendor payments across borders, the modern business requires infrastructure that keeps pace with real-time decision-making. That’s why our commitment to building low-latency systems has remained a priority throughout the year.
We’ve continued to upgrade backend processing frameworks to enable faster transactions across corridors. From latency reduction in currency conversions to shortened settlement times, the focus has been on creating a frictionless user experience that mirrors the speed of innovation in global trade.
Enhancing Security Through Technology
In parallel with performance, security remains non-negotiable. We’ve adopted and expanded best-in-class security protocols, enhancing fraud detection and prevention tools that protect customer funds and data integrity. Using advanced algorithms and real-time monitoring, we’ve elevated our ability to identify threats before they cause disruption.
In an era where cyber threats are increasing in both frequency and sophistication, we’ve responded by embedding security into every layer of our infrastructure. Our approach is both proactive and adaptive—responding to new risks with technology-first solutions.
Leveraging Artificial Intelligence for Smarter Finance
Artificial intelligence is reshaping the financial industry, and we’ve fully embraced its potential. Throughout 2024, AI played a pivotal role in optimizing everything from customer service to internal operations. Our machine learning models help detect anomalies, forecast demand, and personalize user experiences.
These tools allow us to act on insights faster, automate routine processes, and provide predictive guidance to customers. From intelligent chat support to anomaly detection in payment flows, AI is redefining how we deliver value. Looking forward, we are building out capabilities that integrate AI more deeply into the decision-making workflows of our users.
Expanding in North America and EMEA
Our operations in North America and the EMEA region are growing rapidly. Based on current performance, we anticipate doubling the scale of our Americas business by the end of 2025. Similarly, EMEA is on track to expand its commercial impact significantly, thanks to new customer acquisition and deeper product penetration.
In both regions, we’ve established local teams, refined our go-to-market strategies, and expanded sales and support coverage. These efforts are being supported by increasing brand recognition and growing demand for streamlined, tech-first financial services that support cross-border commerce.
Delivering Meaningful Partnerships
Our strategic alliances continue to play a crucial role in our expansion strategy. In 2024, we worked closely with global platforms and systems integrators to launch embedded solutions that unlock new use cases for our financial technology. These partnerships are helping customers accelerate onboarding, reduce overhead, and gain access to the financial tools they need directly within the platforms they already use.
Whether it’s through API integrations, white-label partnerships, or co-marketing initiatives, we are collaborating with other forward-thinking organizations to push the envelope of what global finance can achieve.
Creating Global Consistency Through Local Customization
As our presence expands, we’re paying close attention to local user expectations. Customizing the user experience by region has helped us improve adoption, satisfaction, and operational outcomes. We’ve localized product features, adjusted regulatory flows, and developed market-specific content to meet the distinct needs of businesses in each territory.
Our goal is to strike the right balance—offering a globally consistent experience that still feels relevant and intuitive to users in each market. That’s why our roadmap includes both universal infrastructure upgrades and targeted regional enhancements.
Raising the Bar for Financial Innovation
Every milestone achieved in 2024 points to a broader transformation underway in the way financial services are built and consumed. Businesses are no longer content with siloed tools and fragmented systems. They demand intelligent, connected platforms that provide clarity, speed, and control over their operations.
By focusing on innovation, speed, and customer insight, we are meeting this demand head-on. Our work over the past year has laid the foundation for future product capabilities, expanded access, and deeper integration across platforms.
Foundation of People-Driven Success
As we look back on 2024, one theme stands out as the cornerstone of our continued evolution: people. While infrastructure, product innovation, and global expansion have been essential, none of it would have been possible without the passionate individuals behind the work. Our journey toward building a transformative financial platform has been powered by the dedication, creativity, and resilience of our growing team.
This year, our global workforce grew to more than 1,700 team members spread across 37 cities. Each one brings unique expertise and perspective, unified by a shared mission to redefine how finance is experienced by businesses around the world.
Investing in Talent and Creating a Global Culture
Scaling rapidly often comes with cultural dilution, but our strategy has been different. We’ve intentionally built a set of operating principles that guide behavior, decision-making, and collaboration across all levels of the company. These principles have fostered a culture of ownership, accountability, and agility.
We continue to invest heavily in talent development through internal mobility programs, mentorship opportunities, and leadership accelerators. Our aim is not just to attract high-performers but to nurture them into long-term contributors and future leaders.
From entry-level analysts to regional executives, the expectation is clear: act with intent, deliver with impact, and lead with empathy.
Supporting Employee Experience and Well-being
Our people-first approach also extends to well-being. Throughout 2024, we introduced new wellness initiatives, flexible work policies, and platforms for internal engagement. In an environment where mental health and work-life harmony are increasingly important, our aim has been to foster a supportive ecosystem where people feel seen, valued, and empowered.
These efforts are designed not only to improve retention and productivity but also to enhance the overall quality of experience for every employee, no matter their location or function.
A Commitment to Community Impact
Our belief in purpose beyond profit came into sharper focus this year with the launch of a new social impact program. Built on the Pledge 1% framework, the initiative commits a portion of company equity, time, product, and profit to support initiatives that advance entrepreneurship, education, and community development.
This isn’t a one-off campaign or side project. It’s a core part of how we envision our role in the global economy. From youth mentorship to small business support, we are using our platform and resources to uplift the next generation of innovators.
Empowering Employees to Give Back
Every team member now has access to three fully-paid volunteer days per year, giving them the freedom to support causes they are passionate about. Whether volunteering at a local shelter, teaching financial literacy, or supporting economic empowerment programs, employees are encouraged to make a tangible difference.
Participation in these programs has grown rapidly. In fact, engagement metrics show that employees who volunteer report higher job satisfaction, stronger team cohesion, and a deeper connection to the company’s mission.
Creating Space for Innovation Within Teams
Another key pillar of our culture is internal innovation. We’ve established dedicated programs that give teams space and resources to explore ideas beyond their day-to-day responsibilities. From hackathons to innovation labs, our goal is to nurture curiosity and experimentation.
This approach has already resulted in new feature concepts, process improvements, and even product prototypes. By creating a culture where people are encouraged to challenge norms and propose new ideas, we are cultivating an environment where innovation is everyone’s responsibility.
Celebrating Diversity and Building Inclusive Workplaces
A diverse team is a strong team, and our hiring practices have evolved to ensure broader representation across gender, ethnicity, and professional backgrounds. Diversity alone, however, is not enough. We’ve invested in training, allyship programs, and inclusive leadership workshops to help foster a workplace where every voice is respected and valued.
These efforts extend to our product development as well. By having diverse teams, we are better equipped to build products that serve the nuanced needs of businesses across regions, industries, and stages of growth.
Driving Engagement Through Transparency
Communication is a foundational element in our team structure. Leadership holds regular town halls, Q&A sessions, and open-door hours to keep employees informed and aligned. By fostering transparent dialogue, we’ve built trust and accountability across every level of the organization.
Even in moments of challenge, transparency has helped us stay resilient. Our teams understand not just what the company is doing but why those decisions are being made.
Role of Leadership in Shaping Culture
Leadership plays a crucial role in amplifying and modeling our values. This year, we took deliberate steps to build a leadership culture centered around humility, clarity, and impact. Senior leaders are not only responsible for business performance but also for creating environments where people can grow and thrive.
We also introduced 360-degree feedback and coaching sessions for managers to continuously evolve their leadership styles. These tools ensure that leaders are supported, held accountable, and capable of guiding teams through change with empathy and purpose.
Learning from Challenges and Building Resilience
Like any high-growth company, 2024 presented its share of challenges. Whether navigating shifting market conditions, scaling operations in new regions, or integrating new technologies, resilience was key. We’ve learned to view setbacks as opportunities for iteration and growth.
This mindset is now embedded in our culture. When a product feature underperforms or a process falls short, we respond by analyzing, adapting, and reapplying those lessons at scale.
Strengthening the Employee Journey
From onboarding to advancement, we’ve focused on making every phase of the employee journey more intuitive and impactful. Our new learning platform, launched in mid-2024, centralizes development tracks, resources, and learning communities for employees to chart their growth trajectories.
At the same time, we’ve overhauled our performance management system to ensure more frequent, meaningful feedback loops. These changes are intended to replace traditional annual review cycles with a model that emphasizes continuous improvement and real-time recognition.
Aligning Culture with Vision
As we prepare for another year of growth, it is essential that our cultural foundation remains strong. Our vision is not just to expand but to do so in a way that reflects our values—values that emphasize collaboration, innovation, and global equity.
That means maintaining an organizational rhythm that prioritizes both excellence and sustainability. It means measuring success not just in terms of financial metrics but in impact, engagement, and inclusion.
Entering the Next Chapter with Purpose
As we mark nearly ten years of innovation and progress, we find ourselves standing at a pivotal juncture—ready to shape the future of finance with even more purpose, clarity, and momentum. The past decade laid the groundwork; the next one is about scaling that foundation into something even more transformative. Our commitment is clear: enable businesses of all sizes to navigate global finance with confidence and agility.
Unlocking Opportunity in Emerging Markets
The future of digital finance is increasingly being written in Southeast Asia, Latin America, and the Middle East. These regions are experiencing rapid technological change, shifting consumer behaviors, and significant regulatory modernization. Recognizing this, our strategic focus continues to sharpen around markets that are poised for exponential growth.
In Southeast Asia, rising internet penetration and a booming SME sector are creating demand for cross-border payment solutions and intelligent financial tools. Meanwhile, Middle Eastern markets are undergoing digital transformation at both public and private sector levels, offering unique opportunities to build next-generation financial systems that are efficient, inclusive, and adaptive.
Deepening Product-Led Innovation
In the decade ahead, we will continue investing in product innovation as a primary lever for customer success. The financial needs of businesses are growing in complexity—demanding platforms that do more than just move money. Our roadmap reflects this shift.
Future product development will focus on deeper integration between core functionalities such as global treasury management, real-time payment orchestration, and embedded finance. By building interoperable and flexible modules, we aim to offer customers a toolkit that evolves alongside their business lifecycle.
We are also prioritizing open ecosystem strategies, enabling third-party developers and partners to build on top of our infrastructure. This move will not only accelerate innovation but also allow us to serve niche use cases across industries.
Reimagining Infrastructure for Scalability
One of the biggest learnings from the last ten years has been the importance of resilient, scalable infrastructure. Our future vision includes investing in intelligent routing networks, distributed ledger technologies, and improved global payout capabilities. These enhancements will allow us to offer more reliable, faster, and cost-effective services across all markets.
We will also continue to refine our data infrastructure to deliver better insights to our customers. From enhanced financial analytics to predictive performance indicators, data will become a key differentiator that drives both strategic and operational decisions.
Embracing Artificial Intelligence and Automation
AI is reshaping industries and global finance is no exception. We’re at the forefront of embedding AI into product workflows, customer support, risk management, and compliance. In the years ahead, AI will help us deliver hyper-personalized financial services, enable instant decision-making, and streamline complex regulatory processes.
Intelligent automation will also improve operational scalability—reducing manual intervention and increasing efficiency across internal and external workflows. Our AI roadmap will focus on enhancing transparency, speed, and quality of service.
Enhancing Customer Empowerment
A central theme of our strategy is empowering customers with greater control, visibility, and intelligence. Future updates to our user experience will feature more intuitive dashboards, customizable reporting tools, and context-aware notifications that enable smarter decision-making in real time.
From onboarding to daily transactions, the experience will become more seamless, responsive, and contextually relevant. Whether a startup expanding to its first overseas market or a multinational managing operations in 20 countries, the platform will scale to support them with minimal complexity.
Creating a Unified Global Platform
Our goal remains the same: build a single platform that businesses can use to operate globally, effortlessly. Over the next few years, we will continue consolidating financial functions—such as collections, payouts, FX, treasury, compliance, and credit—into a unified experience.
This integration not only simplifies financial operations but also reduces the need for businesses to engage with fragmented service providers. A truly unified platform improves visibility, reduces cost, and provides a strong foundation for rapid international growth.
Redefining the Standard for Compliance and Trust
In a world of increasing regulatory scrutiny and rising cyber threats, trust has become a competitive advantage. The next chapter of our journey will see us deepen our investments in compliance automation, fraud detection, and cyber resilience.
We aim to not only meet but exceed global compliance standards by building systems that adapt dynamically to changes in regulation. Through partnerships with local regulators and the deployment of AI-based monitoring tools, we intend to maintain a proactive and transparent compliance posture.
Scaling with Sustainability in Mind
We recognize that growth must be sustainable. That means prioritizing long-term thinking in how we scale, operate, and deliver impact. Our environmental, social, and governance strategies are being designed to align business success with planetary health and societal well-being.
We’re currently piloting carbon offsetting for operational footprints and exploring opportunities to integrate sustainability insights into customer reporting. These are early steps, but they reflect a broader commitment to building a responsible future.
Accelerating Innovation Through Ecosystem Collaboration
The financial landscape of tomorrow will be built through collaboration. That’s why we’re doubling down on ecosystem partnerships—working with software providers, infrastructure networks, fintech platforms, and public sector organizations to co-create solutions that drive progress.
By participating in regulatory sandboxes, joining financial inclusion initiatives, and supporting policy development around open banking, we are helping to shape the conditions under which innovation can thrive globally.
The past ten years have shown what’s possible with clarity of vision, consistency in execution, and a relentless focus on customer value. As we look toward the future, we are preparing for the next leap—not just in revenue or reach, but in global influence, platform capabilities, and purpose-driven growth.
Our ambition for the next decade is bold: to become the most trusted, versatile, and intelligent global financial platform in the world. With the building blocks firmly in place, the journey forward is no longer just about growth—it’s about leadership and legacy.
Conclusion
As we reflect on the incredible journey chronicled across this series, a clear picture emerges—one of deliberate growth, relentless innovation, and unwavering commitment to shaping the future of global finance. From expanding our reach to over 150,000 businesses worldwide, to launching transformative financial products and entering key global markets, this past year has been a defining chapter in a decade-long pursuit of excellence.
We’ve explored how foundational infrastructure, technological agility, and regulatory foresight have enabled us to build a platform that not only meets the demands of today but anticipates the challenges of tomorrow. By securing extensive licensing, strengthening our real-time capabilities, and deploying intelligent systems, we’ve laid the groundwork for scalable, cross-border financial operations with local precision.
Innovation has remained at the heart of everything—from developing new solutions like Yield, Spend, and Billing to enhancing user experiences through AI and automation. Our continued expansion into high-growth regions such as Latin America, Southeast Asia, and the Middle East reflects our deep understanding of where the future of commerce is headed.
At the same time, our success has been shaped by more than products and performance. It is powered by people. We’ve strengthened our culture, invested in talent, and woven purpose into our operations. Through initiatives like employee volunteering and social impact programs, we’re proving that global leadership and corporate responsibility can—and must—go hand in hand.
Looking forward, the next decade promises even greater transformation. As we scale into new markets, deepen partnerships, and embrace open ecosystem models, our mission remains clear: to empower businesses of every size to grow without borders. With the continued evolution of our platform and a steadfast focus on trust, speed, and intelligence, we are poised not only to lead but to redefine what financial infrastructure can achieve globally.
The past ten years were just the beginning. The future belongs to those who dare to build it—one market, one innovation, one partnership at a time. Here’s to a bold, inclusive, and limitless era of global finance.
