Airwallex has launched Latitude 37, a new initiative designed to provide early-stage AI founders in Australia with equity-free capital and access to global networks.

Named after Melbourne’s geographic coordinate, where the payments company was founded, the programme will back more than 10 startups each year.

Selected companies will receive AUD 100,000 in funding alongside immersion tours in San Francisco and Singapore.

Airwallex Co-founder and CEO Jack Zhang said the project reflects the roots of the company.

“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.”

Airwallex funds the programme through Airwallex Impact, its global Pledge 1% commitment.

It adds to existing investments in the local innovation sector, including a previous $5 million commitment to the University of Melbourne.

Startup funding in Australia has grown 31% year on year, with over 40% of startups now incorporating AI into their core business.

However, overseas investors source nearly 40% of capital, leaving early-stage funding uneven.

Applications for the programme will open in late May 2026.

Featured image credit: Edited by Fintech News Australia, based on image by thanyakij-12 via Magnific