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Jack Zhang is the co-founder and CEO of Airwallex, an international fintech startup that is transforming global business payments. Motivated by his own experiences with high foreign exchange fees, Jack founded Airwallex in 2015 to create a faster, more affordable, and more transparent cross-border payment platform. Under his leadership, the company has achieved unicorn status, with a valuation of $5.5 billion. Today, Airwallex supports more than 100,000 businesses across over 65 countries, with Jack driving global expansion, innovation, and a vision for a new future in finance.
Jack was born in China and moved to Melbourne, Australia, during his teenage years. There, he developed a passion for technology and problem-solving, which inspired him to pursue a Bachelor of Engineering in Computer Science at the University of Melbourne. His studies provided him with a strong technical foundation and a global perspective, both of which played a crucial role in shaping his entrepreneurial mindset. This ultimately led him to co-found Airwallex.
Jack began his professional journey as a software engineer at Aviva. He later held key roles in financial institutions like National Australia Bank and ANZ, where he specialized in foreign exchange systems and financial technology architecture. He founded Hohen International, a Melbourne-based property development firm, alongside his corporate roles. His combined experience in finance and entrepreneurship inspired him to co-found Airwallex in 2015. In 2021, he launched Capital 49, an investment arm focused on empowering startups. Throughout his career, Jack has consistently demonstrated a strong ability to innovate and lead in complex, global industries.
Airwallex is revolutionizing global finance by integrating AI into everything from streamlining customer onboarding and managing expenses to enhancing cross-border payments, boosting automation, innovation, and helping businesses scale effortlessly worldwide.
Generative AI in Customer Onboarding: Airwallex is transforming customer onboarding with a new generative AI tool that slashes false-positive KYC alerts by 50%. This intelligent system speeds up verification and strengthens fraud prevention by reducing manual reviews and adapting to diverse languages and cultures.
AI in Operations: Airwallex leverages AI across its operations from streamlined onboarding to smart developer tools, enhancing automation, agility, and infrastructure. These AI-driven innovations empower global businesses to scale efficiently and reshape cross-border financial services with speed, intelligence, and adaptability.
AI-Powered Suite: Airwallex Spend is transforming how businesses manage expenses with an all-in-one, AI-powered suite. From smart bill payments to automated expense tracking, it eliminates manual work, unifies global finances, and delivers real-time control, making financial operations faster, leaner, and globally scalable.
Proprietary AI Models: As Airwallex prepares for its IPO, it’s focusing on developing proprietary AI models to boost payment automation, compliance, and cash flow management. By combining in-house innovations with third-party solutions, the fintech is streamlining global expense management for expanding businesses.
AI Partnership: Fiskl and Airwallex have partnered to transform SME finance by integrating accounting with global financial infrastructure, automating cross-border operations and improving transaction accuracy, efficiency, and scalability to empower businesses to grow confidently across borders.
Integrating DevSecOps platform: Airwallex uses GitLab’s DevSecOps platform to boost development speed, simplify workflows, and outperform competitors. This partnership automates software delivery, reduces costs, enhances team collaboration, and incorporates advanced features to expedite code development, ensuring faster, top-tier service for customers.
LeonardoAI and Airwallex: LeonardoAI joined forces with Airwallex to simplify global financial operations and fuel its explosive growth. By replacing outdated banking hurdles with fast, scalable solutions, the partnership saves valuable time and opens doors for bold, creative expansion on a global stage.
Virtual payment Solutions: Airwallex joins forces with ClearBank to roll out virtual business accounts and modernize UK payment systems. With seamless access to Faster Payments, BACS, and CHAPS, the partnership enhances transaction speed, fortifies security, and strengthens brand-led financial services for scaling enterprises.
Google Cloud and Airwallex: Airwallex teamed up with Google Cloud to supercharge its global payments engine, leveraging cutting-edge infrastructure for lightning-fast performance, seamless scalability, and robust security. Together, they drove smarter innovation, ensured compliance, and used machine learning to combat fraud and predict financial needs.
Jack transformed the global finance landscape by turning a startup into a multibillion-dollar fintech powerhouse. With exceptional banking and technology skills, he scaled Airwallex to a valuation of $5.5 billion, supporting over 100,000 businesses worldwide. Jack successfully raised over $800 million in capital from top-tier investors, fueling rapid growth and innovation. His bold leadership led to the development of a proprietary payment infrastructure that operates in more than 65 countries, making cross-border payments seamless and redefining the standards for financial transactions.
Jack has taken the company to its highest-ever figures, raising over US$800 million from high-profile investors and attaining an even valuation of US$5.5 billion. Under his leadership, Airwallex is today a cross-border payments platform with over 100,000 businesses in 65+ countries. His entrepreneurial vision and commitment to bringing finance solutions from the real world have made him one of the successful fintech founders. He also founded Capital 49, an investment company that invests in new ventures and further grows his presence in the global tech and financial ecosystem.
Airwallex has faced controversies related to alleged fraud, employee distress, regulatory challenges, and a high-pressure culture, raising concerns about its compliance, corporate practices, and preparedness for global expansion.
Alleged Fraud: In December 2019, Hong Kong authorities froze $26 million in Airwallex funds following an alleged fraud case tied to the company’s customers. While Airwallex insisted it was an innocent bystander, the incident sparked questions about its involvement in the transaction.
Virtual Banking Backlash: Hong Kong’s virtual banking license, part of its smart city initiative, has drawn fire for being overly restrictive. Despite robust financial backing, fintech unicorn Airwallex failed to secure the license, calling out its tough and limiting criteria.
Traba’s Disruptive Culture: Traba, a $200 million industrial staffing platform, is revolutionizing the industry with its intense work ethic. Backed by companies like Airwallex, this bold approach has drawn both praise and criticism, challenging traditional norms and creating a buzz around its unique corporate culture.
Employee Distress: A troubling anonymous review on Glassdoor exposed deep employee dissatisfaction at Airwallex, citing financial struggles and overwhelming work pressures that pushed someone to the brink. This sparked a tense all-staff meeting where management had to confront the mounting issues.
Compliance Debate: Airwallex came under fire after CEO Jack reportedly questioned if the company could bypass stringent anti-money laundering regulations in Hong Kong. While the company denied any wrongdoing, the incident raised doubts about its adherence to compliance standards.
