Jack Zhang (Airwallex): 10 Key Things You Must Know

Overview

Jack Zhang is a Chinese-born Australian entrepreneur best known as the co-founder and CEO of Airwallex, a pioneering fintech company that is revolutionizing international payments and financial infrastructure. Arriving in Australia as a teenager, Zhang's journey from humble beginnings to leading one of the fastest-growing fintech firms is a compelling story of resilience, innovation, and global ambition. Airwallex, founded in 2015 alongside three university friends, has quickly risen to unicorn status with a multi-billion-dollar valuation, reshaping how businesses move money across borders. This article presents key aspects of Jack Zhang’s life, career, and impact through the lens of his leadership at Airwallex and related insights.

1. Early Life and Education

Born in Qingdao, China, Jack Zhang moved to Australia as a teenager, overcoming significant personal and financial challenges. With limited support, he juggled multiple jobs including working in lemon factories, petrol stations, and restaurants to support his studies. He skipped a year of high school and enrolled at the University of Melbourne where he earned a Bachelor of Engineering in Computer Science. Zhang's formative years instilled a strong work ethic, adaptability, and entrepreneurial spirit, which later shaped his approach to business and innovation.

2. Diverse Entrepreneurial Beginnings

Before Airwallex, Zhang experimented with a variety of entrepreneurial ventures, including real estate development, an import-export business, a cafe, and others. He taught himself through trial and error, often running multiple side businesses simultaneously while working in investment banking roles in London, Hong Kong, and Melbourne. Though profitable, he felt these ventures lacked social impact. This period of exploration laid the groundwork for his future ambitions in fintech.

3. Founding Airwallex: Origin Story

The idea for Airwallex emerged partly from the frustrations Zhang and his co-founders faced running a coffee shop in Melbourne. Encountering high foreign exchange fees and inefficient cross-border payments to source supplies, they envisioned a better, technology-driven solution. Founded in 2015 with co-founders including Lucy Liu, Max Li, and Jacob (Xijing) Dai—also Melbourne University alumni—the company started as a small startup aiming to disrupt traditional international payment systems like SWIFT.

4. Airwallex’s Growth and Market Impact

Under Zhang's leadership, Airwallex has grown into a global payments and financial platform serving over 150,000 businesses worldwide. It supports more than 60 currencies and operations in over 150 countries, offering products such as business accounts, expense cards, multi-currency wallets, and integrated financial infrastructure via APIs. The company has raised over $1.2 billion in funding, achieving a valuation exceeding $6 billion, and is considered Australia’s fastest-growing unicorn fintech, rivaling major players like Stripe.

5. Airwallex’s Strategic Global Expansion

Airwallex strategically expanded from its Melbourne roots by opening offices in key financial hubs including Hong Kong, Singapore, London, New York, and Shanghai. The company secured licenses across multiple jurisdictions, enabling seamless cross-border transactions and financial services tailored to SMEs and large enterprises. In 2025, Airwallex acquired San Francisco-based OpenPay to enter billing and subscription management, signaling ambitions to become a full-stack financial platform beyond payments.

6. Leadership Philosophy and Company Culture

Jack Zhang emphasizes deep domain expertise and individual contribution for leadership roles within Airwallex. He advocates hiring for personality traits like curiosity, determination, and resilience over mere experience and encourages a culture of transparency, intellectual honesty, and continuous improvement. Despite rapid growth and major funding rounds, Zhang is known for maintaining a hands-on approach rooted in engineering and product thinking.

7. Notable Milestones and Achievements

Airwallex reached unicorn status with a $1 billion valuation in just four years, making it one of Australia’s quickest startups to do so. The platform crossed $200 billion in annualized transaction volume by mid-2025 and $900 million in annualized revenue, growing approximately 90% YoY. High-profile partnerships include collaborations with Arsenal Football Club and McLaren Racing, enhancing Airwallex’s brand worldwide. Zhang himself has been recognized as an outstanding fintech leader and entrepreneurial figure.

8. Jack Zhang’s Personal Net Worth and Public Profile

As of mid-2025, Jack Zhang’s net worth was estimated at approximately $1.19 billion USD, reflecting his roughly 12.5% stake in Airwallex. Despite this impressive valuation, Zhang remains focused on long-term company growth and impact rather than rapid personal wealth accumulation. He is private about personal details but is active on professional networks and engaged in mentorship and supporting the fintech ecosystem.

9. The Role and Impact of Co-founders: Lucy Liu & Max Li

Airwallex’s success is equally attributed to its founding team. Lucy Liu serves as President and has played a critical role in company operations, fundraising, and navigating regulatory landscapes globally. Max Li, who heads product design, brings unique insights from his prior architectural background, ensuring user-centric innovation. Their complementary skills with Zhang’s leadership and technical expertise have created a strong, balanced team driving Airwallex forward.

10. Future Outlook and Leadership Vision

Jack Zhang has expressed ambitions for Airwallex to evolve into a comprehensive global banking platform that serves modern business needs with embedded finance, automation, and AI-driven insights. The company aims to challenge traditional banks and legacy systems by becoming operationally seamless and borderless, akin to what Amazon Web Services has done for cloud computing. While IPO plans are being prepared, Zhang is focused on rapid sustained growth and product expansion across emerging and established markets.

Conclusion

Jack Zhang's journey from a young immigrant working multiple jobs to a billionaire fintech CEO embodies the promise of innovation, perseverance, and vision. Airwallex’s rise under his leadership highlights key trends transforming global finance, particularly the digital revolution in cross-border payments and business banking. As the company expands its reach and product suite, Zhang’s commitment to building a lasting financial ecosystem free of traditional barriers remains clear. His story poses a powerful question for entrepreneurs everywhere: How can identifying everyday problems unlock solutions that change industries and empower millions across the world?