Airwallex president says the company is EBITDA positive and serves over 675,000 businesses
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What happened
Airwallex president Lucy Liu said the company was "EBITDA positive" and had a "healthy gross margin", Fortune reported in an article published on August 20, 2026. She declined to give specific profitability figures, so the claim was a management statement without supporting numbers. Fortune also reported that the platform served over 675,000 businesses and had more than $1 billion in annualized run-rate revenue. The article said Airwallex was founded in Melbourne, Australia, and later named Singapore and San Francisco as its global co-headquarters, and that it was expanding in the U.S., South Korea, Mexico and Brazil. It said Airwallex acquired a Mexican payments license through its purchase of MexPago.
The interview took place as the company introduced new products and followed a $320 million Series H in late June at an $11 billion valuation, according to Fortune. The same article noted that in January, Australia's AUSTRAC ordered the company to appoint an external auditor to check its anti-money-laundering and counter-terrorism financing obligations, and that Liu said the company was cooperating fully.
Key points
- Lucy Liu called Airwallex "EBITDA positive" with a "healthy gross margin"; no profit figures were given.1
- The platform served over 675,000 businesses, Fortune reported.1
- Annualized run-rate revenue was over $1 billion, per Fortune.1
- In January, AUSTRAC ordered Airwallex to appoint an external auditor to check its anti-money-laundering obligations.1
Why it matters
Management says the company is EBITDA positive, but without a figure the statement cannot be set against the $11 billion Series H valuation.
Over 675,000 businesses and more than $1 billion in annualized run-rate revenue describe the scale of the revenue base a valuation rests on.
The AUSTRAC auditor order reported in the same article is part of the compliance picture alongside the growth figures.
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
- Liu said Airwallex is EBITDA positive with a healthy gross margin, and gave no figures.Confirmed by [1] Fortune, which quotes both phrases and says she declined to give specific profitability figures.Verified
- Airwallex serves over 675,000 businesses.Confirmed by [1] Fortune.Verified
- Annualized run-rate revenue exceeds $1 billion.Confirmed by [1] Fortune.Verified
- The $320 million Series H in late June valued the company at $11 billion.Confirmed by [1] Fortune, which says 'late June' without a year.Verified
- Airwallex was founded in Melbourne, named Singapore and San Francisco as global co-headquarters, is expanding in the U.S., South Korea, Mexico and Brazil, and acquired a Mexican payments license via MexPago.Confirmed by [1] Fortune.Verified
- In January, AUSTRAC ordered Airwallex to appoint an external auditor over its AML and CTF obligations; Liu said the company is cooperating fully.Confirmed by [1] Fortune.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 IPO
