# Victor Zheng

> Victor Zheng is the Sydney-based CEO and co-founder of mx51, a payments technology company serving banks, acquirers, and payment providers. A former Westpac payments and transaction banking executive and former co-CEO of Assembly Payments, he leads a business that spun out in May 2020 and supplies merchant payment technology under its customers’ brands.

- **Role:** CEO & Co-founder at mx51
- **Organizations:** mx51, Assembly Payments, Westpac Group
- **Education:** Bachelor’s degree in Information Systems, University of New South Wales, MBA, Macquarie Graduate School of Management
- **Known for:** Co-founded and leads mx51 following its May 2020 spinout., Led mx51 through A$25 million Series A and A$32.5 million Series B rounds., mx51 reported more than A$1 billion in processed transaction value at its 2021 Series A announcement.

## Career timeline

- **Before 2020** — Held Head of Payments and Head of Transaction Banking & Deposits roles at Westpac Group, then served as co-CEO of Assembly Payments.
- **2020-05** — Led mx51 as it spun out of Assembly Payments.
- **2021** — mx51 raised A$25 million in Series A financing within 12 months of launch.
- **2021** — Magnus Hsu and Steven Hadley were formally appointed co-founders alongside Zheng.
- **2022-07** — mx51 announced an A$32.5 million Series B financing round.
- **2024** — mx51 collaborated with Commonwealth Bank on Smart Sync and Smart Dash.

## Achievements

- Co-founded and leads mx51 following its May 2020 spinout.
- Led mx51 through A$25 million Series A and A$32.5 million Series B rounds.
- mx51 reported more than A$1 billion in processed transaction value at its 2021 Series A announcement.
- Led a company supplying payment technology to Westpac and Commonwealth Bank.

## Latest updates

- **—** — In 2024, mx51 announced its Commonwealth Bank collaboration on Smart Sync and Smart Dash. The verified company timeline gives the year but no month.

## Links

- Website: https://mx51.com/our-story
- LinkedIn: https://www.linkedin.com/in/victorzheng/

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Profile page: https://yespress.io/victor-zheng
Published by YesPress — https://yespress.io
Last updated: 2026-10-14