Every constraint that should have stopped Australia building software companies became a selection mechanism. Why a small market, long distances and scarce capital produced unusually disciplined businesses.
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Every constraint that should have stopped Australia building software companies became a selection mechanism. Why a small market, long distances and scarce capital produced unusually disciplined businesses.
Airwallex raised at around US$11 billion in May 2026 with roughly US$1.5 billion in ARR. How a Melbourne startup built regulated payments infrastructure across dozens of jurisdictions.
Afterpay listed at A$100 million and sold to Block for around US$29 billion by operating outside consumer credit law. From June 2025 that gap closed – and the sector changed shape.
Melanie Perkins was rejected by more than a hundred investors. Canva now has 150 million users and around US$4 billion in ARR. The product decision that made it possible, and the AI threat to it.
Atlassian priced Jira low enough that engineers could buy it without procurement, and grew to US$5.22 billion in revenue. Why product-led growth worked, and why it eventually was not enough.
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