From Four Teen Jobs to a $8 Billion Fintech: The Journey of Airwallex CEO Jack Zhang

Melbourne, Australia — Jack Zhang, co-founder and chief executive of Airwallex, spent his teenage years juggling four low-wage jobs to keep himself in school. Two decades later, the payments platform he helped create is valued at US$8 billion, illustrating a rapid ascent from financial hardship to technology entrepreneurship.

Early relocation and financial pressure

Born in Qingdao, China, Zhang left for Australia at age 15 in search of broader opportunities. He arrived in Melbourne with limited English, moving in with a host family while completing secondary studies. Soon after, he learned that his parents were experiencing serious financial difficulties at home. That development left him responsible for covering his own tuition and living costs if he wished to remain in Australia.

The pressure led Zhang to accept every position he could secure. While pursuing a computer science degree at the University of Melbourne, he washed dishes during the day, tended bar in the evening, staffed an overnight shift at a petrol station, and packed lemons at a factory during summer breaks. During peak periods, his combined schedule reached 80–100 working hours per week, in addition to full-time coursework.

First steps in finance and side ventures

After graduating in 2007, Zhang joined Aviva, an insurance company, before moving into the banking sector. Parallel to his corporate employment, he operated several side businesses, including a shipping enterprise that exported Australian olive oil and wine to Asian markets and a real-estate development project. These ventures generated substantial income, enabling him to accumulate several million dollars before his 30th birthday.

Despite financial success, Zhang felt detached from a clear purpose. The turning point came with the birth of his daughter when he was 30. The new responsibility convinced him to leave both his full-time banking position and various smaller enterprises in order to focus on building a single, large-scale company that aligned with his interests.

Identifying a market gap

The concept for Airwallex emerged from a coffee shop Zhang co-owned in Melbourne with university friend Max Li. The café imported beans and equipment from suppliers in China and Brazil, requiring frequent international payments. Encountering high fees and slow settlement times through the Society for Worldwide Interbank Financial Telecommunication (SWIFT) network, Zhang and Li concluded that businesses needed a more efficient system for cross-border transactions.

By late 2015, Zhang, Li, and three additional university acquaintances — Lucy Liu, Jacob Dai, and Ki-lok Wong — formally established Airwallex. Liu provided the initial US$1 million investment, giving the team capital to build infrastructure intended to move money quickly and at lower cost for globally oriented companies.

Rapid expansion and valuation milestones

From its launch, Airwallex positioned itself as an alternative network for international transfers, currency exchange, and embedded financial services. The firm targeted e-commerce sellers, online marketplaces, and software platforms that required multi-currency accounts and real-time settlements. Over the next decade, Zhang maintained a schedule that he describes as “easily” 80 working hours per week, mirroring his teenage work ethic.

As of December 2025, investor assessments place Airwallex’s valuation at US$8 billion. Internally reported figures show the company exceeded US$1 billion in annualized run-rate revenue by the end of last year. Management now aims to reach at least US$10 billion in yearly revenue by 2030, according to Zhang.

Imagem: Internet

Work habits and leadership approach

Despite the fintech’s growth, Zhang states that his personal schedule remains unchanged from earlier stages of his career. He attributes the endurance to formative years spent balancing multiple roles under financial stress, adding that the concept of burnout does not resonate with him. Instead, he views his workload as necessary to sustaining momentum at a high-growth technology company.

Colleagues from Zhang’s university network occupy key positions within Airwallex, a structure the CEO believes supports cohesion and speed of execution. While external investment rounds have brought in institutional capital, the founding team continues to manage day-to-day operations.

Market context

Airwallex competes in an increasingly crowded sector that includes traditional banks, money-transfer operators, and emerging fintech platforms. Industry observers note that the company’s focus on API-driven services allows clients to integrate international payments directly into their own software, bypassing older manual processes. The strategy aims to capture a share of the growing digital commerce flow between businesses worldwide.

Independent estimates from research firms tracking global payments suggest cross-border e-commerce volumes will exceed US$4 trillion by the end of the decade, emphasizing the scale of the opportunity for providers capable of reducing transfer friction.

Looking ahead

Zhang indicates that Airwallex plans to expand product lines, pursue additional regulatory licenses, and deepen its presence in markets across North America, Europe, and Asia-Pacific. The company is also evaluating potential acquisitions to accelerate geographic coverage and product capabilities.

With those objectives, Zhang continues to rely on the same intensity that defined his student years. The CEO’s path — from washing dishes and packing lemons to steering an international fintech — underscores the role that perseverance and direct exposure to operational pain points have played in shaping Airwallex’s business model.

Crédito da imagem: Courtesy of Jack Zhang