Airwallex, the Melbourne-born payments platform now valued at $11 billion, says it still intends to be IPO-ready by the end of 2026. But “ready” and “doing it” are two very different things.
In a recent interview with Fortune, Airwallex president and co-founder Lucy Liu confirmed the company’s timeline for preparation while acknowledging that actually pulling the trigger on a listing is another matter entirely. “It’s just not the best time, given how complicated things are,” Liu said.
A fintech giant quietly flexing its numbers
Airwallex reported a $1.3 billion annualized revenue run rate as of March 2026, representing 74% year-over-year growth. Its annualized transaction volume hit $287 billion, more than doubling from the prior year with growth exceeding 120%.
The company serves over 675,000 businesses globally. Airwallex says it is both cash-flow positive and EBITDA positive with healthy gross margins.
