# mx51

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/mx51-pty

- Industry: Software
- Headquarters: Sydney, Australia
- Website: www.mx51.io
- Total disclosed funding: $50M
- Latest round: Series B (Jul 6, 2022)
- Investors on record: 11

## About

Based in Sydney, Australia, and founded in 2020, mx51 Pty Ltd is a developer of a Payment as a Service platform intended for banks to grow merchant relationships through innovative multi-channel payment capabilities and value-added solutions that are delivered through a bank-grade, cloud-based integration system. The company was co-founded by Victor Zheng and backed by investors from the May 2021 funding round that includes Acorn Capital, Artesian, Commencer Capital, and Mastercard. The company employs 50 staff as of May 2021 but expects to have 70 to 80 staff within six to nine months.

mx51 offers a white-label, Payment as a Service (PaaS) cloud platform that holds Personal Identifiable Information (PII) data for acquirers and payment providers. The platform also allows merchants to manage and track payments and monitor their business performance across all of their stores in real-time. mx51 also has open technology architecture, allowing the software to be integrated with a broad range of existing, retail point-of-sale (POS) systems.

The company generates revenue through subscription fees from banks and payment providers.

mx51 plans to expand with other banking partners, further develop its solution for integrated in-store payments and build out an e-commerce payments platform.

## Funding rounds

- Series B, Jul 6, 2022, $22M — MasterCard Investment, Artesian, Rampersand, Acorn Capital, Commencer Capital, HS Investments SEA Fire Limited, Hsbc Custody Nominees (Australia) Limited
- Series A, Aug 25, 2021, $27M — Westpac Bank, MasterCard Investment, Cultivation Capital, Artesian, SixThirty, Rampersand, Acorn Capital, BNP Paribas, Commencer Capital, Hsbc Custody Nominees (Australia) Limited

## Investors

- Westpac Bank — Series A
- MasterCard Investment — Series A, Series B
- Cultivation Capital (https://capitalatlas.ai/funds/cultivation-capital) — Series A
- Artesian (https://capitalatlas.ai/funds/artesian) — Series A, Series B
- SixThirty (https://capitalatlas.ai/funds/sixthirty) — Series A
- Rampersand (https://capitalatlas.ai/funds/rampersand) — Series A, Series B
- Acorn Capital — Series A, Series B
- BNP Paribas — Series A
- Commencer Capital (https://capitalatlas.ai/funds/commencer-capital) — Series A, Series B
- Hsbc Custody Nominees (Australia) Limited — Series A, Series B
- HS Investments SEA Fire Limited — Series B