Payments startup Airwallex is nearing an annual revenue run rate of $500 million and will be ready for an IPO by 2026, CEO Jack Zhang told CNBC.
Payments firm Airwallex is nearing an annual revenue run rate of $500 million after seeing significant growth in its North American and European businesses, CEO Jack Zhang told CNBC.
Airwallex, which was most recently valued at $5.5 billion and is backed by Tencent, has been tipped as one of many prominent fintech IPO candidates.-backed payments startup Airwallex is nearing an annual revenue run rate of $500 million and will look to get ready for an initial public offering by 2026, CEO and co-founder Jack Zhang told CNBC in an exclusive interview.
Zhang said that Airwallex has seen significant growth in its business in the last year, boosted by an expansion into developed markets such as the U.K. Europe, and North America. When asked by CNBC about how he feels about the prospect of an IPO for his business, 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."Airwallex crossed $100 billion in annual payment processing volumes this year, Zhang said, marking a 73% increase from last year. That came as the firm saw volumes growing across all its products, including payments, foreign exchange, payouts, and issuing.
That experiment has only recently gone live, he said, but Zhang is so confident about the adoption of AI agents to take on the day-to-day work of SDRs that he thinks they could replace as much as 70% of these types of employees within Airwallex.
Adyen NV Tencent Holdings Ltd Breaking News: Technology Technology Fintech Business News
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The $500 HMD Skyline is the modern Nokia of your dreams - and they (literally) killed itMartin, a tech journalist at PhoneArena, brings a unique blend of humor and insight to his work. His fascination with smartphones began with a Galaxy Young and evolved through a series of trades and upgrades, making him a self-proclaimed smartphone nerd.
Read more »
I tried a $500 health tracking app. Here’s why it’s worth every pennyLooking for a health tracking solution that goes deep? I tried InsideTracker, a $500+ health tracking app unlike anything else. Here's why it's a game-changer.
Read more »
Brilliant Motorola Edge+ (2023) deal keeps it under the $500 mark on AmazonPolina Kovalakova, a News and Affiliate Content Writer, has nurtured a passion for mobile technology since the era before smartphones. With a history of exploring a variety of devices, her insights into the mobile world are both broad and nuanced.
Read more »
Southern California receives $500 million to slash freight emissionsPadilla: ‘We shouldn’t have to choose between being a pivotal part of our nation’s economy and having clean air.’
Read more »
This Dell XPS 16 deal cuts the laptop’s price by $500The Dell XPS 16 has a major markdown today! Save $500 when you purchase the powerful laptop directly from Dell.
Read more »
AI startup Cohere cuts staff after $500 million funding roundCohere, the artificial intelligence startup founded by ex-Google AI researchers and backed by Nvidia, cut about 20 roles on Tuesday, CNBC confirmed.
Read more »