Airwallex president says IPO-ready by end-2026 is still the aim, but timing is not ideal
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What happened
Airwallex president Lucy Liu told Fortune, in an article published on August 20, 2026, that the company still planned to be "IPO-ready" by the end of 2026. She said a firm date for any listing depended on market conditions. On timing, she said: "It's just not the best time, given how complicated things are." She added that most people were still a little bit on the fence about going public.
The interview came as Airwallex was introducing new products, which Fortune described as T:0, an automated bookkeeping system that can run a company's entire finance department with a person still overseeing it, and Airi, an agentic consumer wallet designed for one-click checkout. Fortune also repeated the company's recent funding history: a $320 million Series H in late June, led by returning investor Addition, at an $11 billion valuation, and an $8 billion valuation in December, when Airwallex raised $330 million in another Addition-led round. No listing date, exchange or offering size was given. Liu's remarks were a statement of intent, not a filing or an announced offering.
Key points
- Lucy Liu said Airwallex still planned to be "IPO-ready" by the end of 2026.1
- She said a firm listing date depended on market conditions: "just not the best time, given how complicated things are."1
- Fortune reported the late-June Series H valued the company at $11 billion, up from $8 billion in December.1
- No listing date, exchange or offering size was disclosed.1
Why it matters
Management ties IPO readiness to the end of 2026 but gives no listing date, so the timing of public-market liquidity for employees and early holders stays open.
Liu linked the decision to market conditions and said many were on the fence about going public, which shows the listing route depends on conditions outside the company.
The $11 billion Series H mark, up from $8 billion in the December round, is the latest private-market reference point Fortune cites.
In context
| Round | Date | Post-money valuation | Raised | Led by |
|---|---|---|---|---|
| Series D | Apr 16, 2020 | $1.8B | $160M | Unknown |
| Series D extension | Sep 29, 2020 | $1.8B | $40M | Unknown |
| Series D extension | Mar 23, 2021 | $2.6B | $100M | Greenoaks |
| Series E | Sep 20, 2021 | $4.0B | $200M | Lone Pine Capital |
| Series E1 | Nov 18, 2021 | $5.5B | $100M | Lone Pine Capital |
| Series E2 | Oct 10, 2022 | $5.5B | $100M | Unknown |
| Series F | May 21, 2025 | $6.2B | $300M | Unknown |
| Series G | Dec 8, 2025 | $8.0B | $330M | Addition |
| Series H | Jun 25, 2026 | $11B | $320M | Addition |
Updated
Fact-check
- Airwallex still aims to be IPO-ready by the end of 2026.Confirmed by [1] Fortune, which reports Liu saying the company still plans to be "IPO-ready" by the end of 2026.Verified
- Liu said it is "just not the best time, given how complicated things are" and a firm date depends on market conditions.Confirmed by [1] Fortune, which quotes her and says the firm date will depend on market conditions.Verified
- Liu said most people are still a little bit on the fence about going public.Confirmed by [1] Fortune, which quotes that sentence.Verified
- The Series H raised $320 million in late June, led by Addition, at an $11 billion valuation; the December round raised $330 million, led by Addition, at $8 billion.Confirmed by [1] Fortune, which gives both rounds; it says 'late June' and 'December' without a year, so no year was added.Verified
- Airwallex introduced T:0, an automated bookkeeping system, and Airi, an agentic consumer wallet for one-click checkout.Confirmed by [1] Fortune, which describes both products.Verified
- The article was published on August 20, 2026.Confirmed by [1] Fortune, which shows original publication on August 20, 2026.Verified
Sources
- [1]Fortune (opens in a new tab)Airwallex expands to autonomous finance, though still 'not the best time' for IPOIt's just not the best time, given how complicated things are.
