Airwallex, the global payments and financial startup, has reportedly just reached an annual revenue of $500m, paving the way for an initial public offering (IPO).
Airwallex Eyes 2026 IPO After Making Annual Revenue of $500m
In an exclusive CNBC interview, the company’s CEO, Jack Zhang, stated that the next annual recurring revenue (ARR) target is $1bn, in preparation for going public in 2026. The Singapore-based firm is backed by China’s Tencent Holdings (0700.HK), an investor in digital marketing and fintechs, among others.
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Zhang indicated that Airwallex experienced significant growth over the past 12 months. Its expansion in the UK, Europe and North America greatly contributed to this. CNBC reported that the company’s year-over-year revenue grew by more than 300% in the Americas.
More than 35% of Airwallex’s transaction volumes come from the UK, Europe and North America. When asked about the company’s IPO prospects, Zhang said:
For us, it’s just about getting IPO-ready in the next two years so that we have the choice to go or not go. In 2025, we will prepare everything, and we can decide what to do after 2026.
The firm’s annual payment processing volumes, which passed the $100bn mark, increased by 73% compared to the previous fiscal year. This achievement followed growth in its payments, foreign exchange, payouts and issuing products. Zhang noted:
It took us nine years to cross the $100 billion mark. Hopefully it takes less than a year to get to $200 billion.
Zhang also stated that the company uses artificial intelligence to boost the productivity of its employees and rein in costs.
