Airwallex launches Latitude 37 to back Australia’s next generation of AI founders with $1M annually

MELBOURNE, Australia - Airwallex today announced the launch of Latitude 37, a new Australia-focused initiative to support the next generation of young AI founders at the earliest stages of building their companies.

Named after Melbourne’s latitude, where Airwallex was founded, Latitude 37 will back 10+ early-stage AI startups each year, providing AUD $100,000 in equity-free capital per company, as well as access to Airwallex’s global network and immersion tours in San Francisco and Singapore.

The initiative reflects Airwallex’s long-term commitment to Australia’s innovation ecosystem, and its belief that early access to capital, networks and support is critical to enabling founders to build globally competitive companies from Australia from day one.

Airwallex Co-founder and CEO, Jack Zhang, said Latitude 37 was deeply personal and grounded in the company’s Australian origins.

“Australia gave me the education, network and opportunity to build a global company from Melbourne,” Zhang said.

“With AI representing the most significant platform shift of our generation, we want to ensure the next wave of founders have the same opportunity to build and scale globally, without needing to leave Australia.”

“Australia has a unique combination of talent, global perspective and proximity to Asia, which is a potent combination for building globally significant companies.”

President of Airwallex, Lucy Liu, said the initiative builds on the company’s broader commitment to supporting innovation, with a sharper focus on early-stage founders.

“Latitude 37 is about backing founders at the very beginning when access to capital, networks and belief is hardest to secure,” Liu said.

“Through this program, we’re providing not just funding, but meaningful access to global markets, operators and opportunities that can accelerate growth.”

Interim CEO, Director of Government Affairs and Policy of Tech Council Australia, Lucinda Longcroft, said initiatives like Latitude 37 play an important role in strengthening Australia’s credentials as an innovation hub.

“Australian AI founders have the talent and ambition to build globally significant companies. At the early stage, access to capital, the right networks and a clear path to global markets are critical,” Longcroft said. 

“The launch of Latitude 37 will accelerate emerging talent and strengthen the pipeline of globally competitive companies. We’re delighted to see Airwallex backing Australian founders and supporting more companies to scale and compete globally.”

The launch comes as Australia’s technology ecosystem continues to gain global recognition, with startup funding up 31% year-on-year and more than 40% of startups now building with AI at their core.

Australia has produced more than $100 billion in globally scaled technology companies and over 30 unicorns, including Canva, Atlassian and Afterpay. However, early-stage local funding still remains uneven, with nearly 40% of capital coming from overseas investors.

Latitude 37 is designed to complement the existing venture and angel funding ecosystem, addressing a critical gap by supporting founders earlier and more directly. It also reflects a broader global shift, as countries compete to support AI-native startups beyond traditional hubs like Silicon Valley, reinforcing the growing importance of the Asia-Pacific region as a global technology corridor.

The program builds on the company’s longstanding investment in Australia’s innovation ecosystem, including over $5M already committed to the University of Melbourne. Funded through Airwallex Impact, the company’s global Pledge 1% initiative, Latitude 37 is a targeted Australian initiative that backs early-stage founders with direct capital, global access and hands-on support.

Applications for Latitude 37 will open in late May 2026, with selected founders receiving funding, mentorship, and access to Airwallex’s global network and hubs.

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About Airwallex

Airwallex is a leading global financial platform for modern businesses. We are building the future of global banking for a borderless, real-time, intelligent economy.

More than 250,000 companies worldwide, from startups to public enterprises, use Airwallex to manage their global banking and financial operations, or to build and monetise their own financial products.

Founded in Melbourne in 2015, Airwallex holds 80+ licenses across North America, Europe, the Middle East, and Asia-Pacific, forming one of the most comprehensive financial infrastructures in the world. This regulated backbone powers Airwallex products at global scale, including payment acceptance, billing, global accounts, corporate cards, and spend management.

The company is co-headquartered in San Francisco and Singapore with over 2,200 employees across 26 offices. Learn more at www.airwallex.com.

NOTE: Pledge 1% is leading a global movement to embed social impact into all businesses. Providing a simple, flexible framework for setting aside staff time, product, profit, and/or equity, Pledge 1% encourages and empowers companies of all sizes to leverage their assets for good.