# mx51

> mx51 is a Sydney-based fintech that provides a bank-grade, cloud-native Payment-as-a-Service platform. Spun out of Assembly Payments in 2020, it gives banks, acquirers and payment providers white-label, multi-channel payment infrastructure - in-store terminal software, merchant and support dashboards, analytics and 150+ point-of-sale integrations - so they can serve merchants without building the technology themselves. Its customers include Commonwealth Bank and Westpac, and the platform has processed billions of dollars in transactions across the Asia-Pacific region.

- **Founded:** 2020
- **Headquarters:** Sydney, New South Wales, Australia
- **Founders:** Victor Zheng (CEO & Co-founder), Magnus Hsu (COO & Co-founder), Steven Hadley (CTO & Co-founder)
- **Team size:** Approximately 65 employees
- **Products:** In-Store Payments, Merchant Dashboard, Support Dashboard, POS Integration Framework, Business Solutions & Analytics
- **Notable:** First Australian fintech to build a bank-grade Payment-as-a-Service platform., Spun out of Assembly Payments in 2020 and reached profitable-scale customer wins including Commonwealth Bank and Westpac., Raised AU$57.5 million in total funding across seed, Series A and Series B.

## Products & services

- **In-Store Payments** — Device-agnostic terminal software that lets payment providers deploy card-present payments across a range of hardware.
- **Merchant Dashboard** — A single portal giving merchants detailed, near real-time reporting and analytics on their sales, settlements and transactions.
- **Support Dashboard** — Fleet-wide operational insight for payment providers to identify and resolve terminal and payment issues in near real-time, reducing support costs.
- **POS Integration Framework** — A framework and library of 150+ point-of-sale integrations that connect merchant POS systems to payment terminals.
- **Business Solutions & Analytics** — Customer insights, disputes/chargeback management, reports and eStatements built on top of the transaction data.
- **PaaS Platform** — The underlying bank-grade, multi-tenant, cloud-native platform that powers all products - secure, scalable and white-labelled for partners.

## Achievements

- First Australian fintech to build a bank-grade Payment-as-a-Service platform.
- Spun out of Assembly Payments in 2020 and reached profitable-scale customer wins including Commonwealth Bank and Westpac.
- Raised AU$57.5 million in total funding across seed, Series A and Series B.
- Attracted repeat investment from Mastercard across multiple rounds.
- Built 150+ point-of-sale integrations.
- Processed billions of dollars in merchant transaction volume.

## Latest updates

- **2022-07** — Raised AU$32.5 million Series B to fund local scale and international expansion, with Mastercard and existing investors participating.
- **2021** — Closed AU$25 million Series A led with participation from Mastercard and Acorn Capital.
- **2020-05** — Spun out of Assembly Payments as an independent Payment-as-a-Service company.

## Links

- Website: https://mx51.com
- LinkedIn: https://www.linkedin.com/company/mx51
- Twitter/X: https://twitter.com/mx51io

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Profile page: https://yespress.io/mx51
Published by YesPress — https://yespress.io
Last updated: 2026-07-27