Associated media – Connected media
Airwallex, a fintech startup backed by Tencent and recently appraised at $5.5 billion, has achieved a significant financial milestone by reaching $500 million in annual revenues. The company’s CEO and co-founder, Jack Zhang, revealed in a recent discussion that Airwallex is setting its sights on an initial public offering (IPO) by 2026.
During the interview, Zhang expressed optimism about doubling the company’s annual recurring revenue to $1 billion potentially by 2027. Airwallex’s growth trajectory has been steep, bolstered by strategic expansions into key markets across the UK, Europe, and North America. These regions now contribute over 35% to the company’s total trade volume, reflecting a robust increase in their market presence.
Zhang shared that revenue in the Americas alone surged by 300% compared to the previous year. He also highlighted a remarkable achievement in payment processing volumes, which soared past $100 billion this year, marking a 73% increase from the prior year.
Looking ahead to the IPO, Zhang mentioned that 2025 would be focused on preparing the company to be IPO-ready, after which they will evaluate the best course of action. Despite the rapid growth, Airwallex remains unprofitable on an annual basis, though it has reported profitability on a monthly basis in recent months.
To manage costs effectively, Airwallex has turned to artificial intelligence. The company is piloting a program with 11x, which provides digital “AI workers” that could potentially replace up to 70% of its sales development roles, aiming to enhance productivity and reduce operational costs.
Despite a challenging financial technology landscape with cautious investor sentiment, Zhang remains confident about the future. He believes that while the sector faces skepticism, the substantial market size and success stories from other fintech giants like Nubank and Stripe offer a positive outlook for companies that continue to innovate and lead in their space.
Airwallex’s journey towards an IPO in the competitive fintech arena reflects its ambition and strategic positioning, aiming to solidify its status as a global leader in financial payments.
Associated media – Associated media
