mx51 chief executive Victor Zheng. Source: supplied
This week we saw e-commerce platform Little Birdie backed to the tune of $30 million with funding from CBA, and heard from Collabosaurus founder Jessica Ruhfus, who hasn’t raised a cent, but has bootstrapped her way to profitability.
But there has also been more funding activity for Aussie startups, including in both the medtech and fintech sectors, as well as a successful equity crowdfunding campaign for a business digitising property management.
Plus, we take a look at a shiny new unicorn in the US solar energy space.
Here’s some of the funding news you might have missed.
Payments Giant Mastercard Joins $25M Round in Australian Payment as a Service Fintech mx51
Mastercard has reportedly joined a $25 million investment round in Australia-based payments-as-a-service Fintech
mx51.
As noted my mx51’s management:
“We empower our partners to connect seamlessly with merchants and their customers. mx51 is the first Australian fintech to develop a bank-grade, modern, end-to-end Payment as a Service platform. With deep knowledge of merchant acquiring and scalable payments technology, we can help our partners thrive globally in a disruptive world.”
The capital secured represents mx51’s first major funding round, which has been finalized less than a year after the company branched out of
iTWire Monday, 24 May 2021 16:56 mx51 adds $25 million to coffers with capital raise Featured Victor Zheng, CEO mx51
Payments technology company mx51 has raised $25 million in a Series A round led by Acorn Capital, Artesian, Commencer Capital and Mastercard.
The funds represent
mx51’s first major round of investment, secured less than 12 months after the company spun out of Assembly Payments in May 2020.
The business is led and founded by former Westpac executive and former Assembly Payments co-CEO Victor Zheng.
mx5 says the round will allow it to rapidly expand in Australia and build out further functionality to compete with other payment platforms.