Australian Crypto Exchange Swyftx Cracks 400,000 Users

October 20, 2021, 10:30 AM AEST (updated October 29, 2021)

Brisbane-based crypto start-up Swyftx has had a breakout year in 2021, announcing this week it had passed the milestone of 400,000 users, adding 50,000 new customers since August.

In that same month, the company launched in New Zealand following a period of rapid expansion that has seen it become one of Australasia’s fastest-growing tech companies.

Company Remains Fully Self-Funded

Founded by high school friends Alex Harper, 27, and Angus Goldman, 26, who met at a national computer science convention, Swyftx has been adding an average 8000 users a day to its platform this year. Goldman and Harper started the company in 2019 using their profits from the crypto bull market of previous years. Since then Swyftx has remained fully self-funded, an achievement in itself.

Swyftx founders Alex Harper and Angus Goldman

In the past financial year, Swyftx’s customer base grew by 1,659 percent and the company now employs more than 130 staff – up from a total of just 11 at the start of the previous financial year. As of mid-2021, Swyftx was transacting A$2 billion per month in customer trading volume on its platform, placing it among the top handful of exchanges by volume operating in Australia.

It’s all a long way from the company’s humble beginnings in a Brisbane share house and early days as a fledgling start-up with only five staff.

For a year and a half, Angus and I spent many long hours building the business from one small room. We’re now the second-biggest, and most trusted, digital asset exchange in Australia.

Alex Harper, co-founder, Swyftx

340K Users Added in Six Months

Katya Richardson, digital performance manager at Swyftx, recalls that when she started at the company in April this year, there were just 25 staff, under 60,000 users, and the exchange only operated in Australia.

“It’s been a wild and exciting ride that I’m extremely proud to have been a part of,” says Richardson, who doubles as the company’s growth team leader. “It’s been a huge quarter for our team here at Swyftx and we’re gearing up to finish 2021 with a bang.”

After opening its New Zealand operation in August, Swyftx plans to expand into other countries including the UK, Ireland, Canada and India. It also intends to integrate all major asset classes into the platform.

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