Rewarding night for Pay.com.au as financial services star wins the 2024 Smart50 Awards

Pay.com.au has been crowned the fastest-growing Australian SME during a packed awards night at SmartCompany’s annual Smart50 Awards in Melbourne.

Since 2007, the Awards have counted down the 50 fastest-growing Australian small and medium businesses and awarded category awards to those serving and supporting their customers and community in myriad ways. You can see all the Smart50 category winners and the Smart50 ranking here.

Tonight, the Australian SME community’s best and brightest came out in style to celebrate on Melbourne’s Southbank.

Data shows that nearly half of small businesses considered closure in the past 12 months, but there have also been a wealth of success stories showing how leaders are adapting, which came through in the stories behind the fast-growing businesses making up the 2024 Smart50.

Winner Pay.com.au had a remarkable 385% growth average over the past three financial years. Co-founded by Edward Alder and Damien Waller, the owners of Point Hacks – Australia’s leading frequent flyer publisher – Pay.com.au has processed millions of payments and helped thousands of Australian business owners earn rewards from business expenses they once couldn’t.

The Elsternwick, Victoria-based financial services business, which has 75 employees, banked $56.8 million in the last financial year.

This year, those making the Smart50 list made $912 million in FY24 alone, up from $495 million at the 2023 awards.

SmartCompany is privileged to partner with Optus Business to recognise the businesses that drive our nation’s economy and workforce.

With more pressure on businesses in the current fiscal cycle, it’s more important than ever to recognise the 99.8% of Australian businesses with under 200 staff who generate more than 50% of Australia’s GDP, and employ more than 75% of all Aussie workers.

Pay.com.au weren’t the only big performer on the night. The Smart50 Awards has eight dedicated categories that recognise businesses and leaders in the community, the innovation space, the retail sector, and more.

This year there were two companies that took out two awards each, with Paire winning Retail and Rising Star Awards, and The Laundry Lady winning Marketing and People Power Awards.

Read more about the other winners in our full category winner wrap here.

There were more than 250 entries to the Smart50 Awards 2024 from across Australia. The Smart50 Awards have run for over 15 years with previous winners including Atlassian, Showpo, and more.