Airwallex President Lucy Liu Says Company Aims for IPO Readiness by Year-End

In a conversation for the Asia Agenda series, Airwallex president Lucy Liu said the Australian-origin payments platform is targeting readiness for an initial public offering by the close of the year, though she warned that the timing is not ideal given the market’s complexity. The firm, which serves over 675,000 businesses and reports more than $1 billion in annualized run-rate revenue, has recently secured $330 million in December and $320 million in a June Series H round to accelerate its push into regions like Mexico, South Korea, Brazil and the United States.

Liu pointed out that investors are gravitating toward later-stage investments and expect a solid track record before deploying capital. She also referenced the crowded IPO calendar, noting major listings such as SpaceX, SK Hynix and ChangXin Memory Technologies that could eclipse a smaller player like Airwallex. Earlier criticism from venture capitalist Keith Rabois and Senator Tom Cotton over alleged Chinese data ties has been rejected by the company’s leadership. With headquarters now in Singapore and San Francisco, Airwallex hopes to position itself for a smoother U.S. market entry when conditions improve.