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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.