mx51
mx51 is an Australian fintech that provides a bank-grade payment processing platform for merchants and financial institutions. The company has raised $58M, including a Series B in July 2022 backed by Mastercard and others.
The growth story
mx51 grew from 49 to 66 employees between 2021 and 2026, raising $58M along the way, most recently a Series B in July 2022.
About
mx51 sells a white-label payment processing platform that banks and other financial institutions can offer to their merchant customers. The system handles transactions end-to-end, aiming to help partners compete in global payments.
The company has grown to 66 employees since its 2020 founding. Its $58M funding includes a Series B led by Mastercard and several Australian VC firms, suggesting strong investor confidence in its bank-grade technology approach.
Founders and leadership
Engineering is mx51's largest function, with 20 employees. The company has a median tenure of 3 years, indicating relatively stable staffing for a fintech startup.
The mx51 org chart
Victor Zheng (CEO & Co-founder) leads 28 mapped leaders with 2 direct reports. Click +N to expand a team; names link to the person’s public profile.
Departments, and which ones grew
Headcount by function: Engineering 24 (+4% YoY), Business Development 9 (+50% YoY), Information Technology 8 (-20% YoY), Customer Success and Support 6 (-14% YoY), Product Management 4 (+33% YoY), Program and Project Management 3 (0% YoY).
Talent flow
mx51 recruits heavily from other Australian fintechs, with Zai, Westpac, and Verifone as top talent sources. Alumni often move to major banks like Commonwealth Bank and Woolworths, as well as tech firms like Atlassian.
Most common previous employers of mx51 staff: Zai (11), Westpac (5), Verifone (3), Deltatre (2), Optus (2), Tyro Payments (2). Former mx51 employees most often moved to Linkly (5), Woolworths (4), Commonwealth Bank (3), Atlassian (2), GRIDSIGHT (2), Macquarie (2).
Alumni worth knowing
The mx51 mafia
Three mx51 alumni have founded startups, including Slide Science, Alexia.ai, and Talent Engine. Each has one founder from mx51, with Slide Science also hiring one additional mx51 staff member.
3Dan Galletta, was Group Product Manager until 2025Simon Lee, was Board Member and Shareholder until 2021Heath McNally, was Talent Acquisition Lead until 2022Web traffic
Traffic mix: 0% direct, 0% search, 0% social, 0% paid.
What this company is made of
Most common skills at mx51: Leadership (19), Customer Service (17), Agile Methodologies (17), JavaScript (17), Microsoft Office (16), Management (16), Project Management (16), Communication (15).
Where the team actually sits
mx51 people are concentrated in Greater Sydney Area (15), New South Wales, Australia (14), Victoria, Australia (5), Queensland, Australia (5).
Search footprint
mx51 attracts about 38 organic search visits a month, traffic worth roughly $0K a month if bought through ads. It gained 6 ranking keywords and lost 14 in the last period.
Frequently asked
mx51 has 66 employees as of September 2026.
mx51 has raised $58M in total, most recently a Series B round in July 2022.
mx51 was founded in 2020 by Magnus Hsu, Victor Zheng.
Victor Zheng (CEO & Co-founder) sits at the top of mx51's reporting structure, with 2 direct reports.
The most common previous employers of current mx51 staff are Zai (11 people), Westpac (5 people), Verifone (3 people).
Former mx51 employees most often move to Linkly (5), Woolworths (4), Commonwealth Bank (3).
At least 3 companies have a founder who previously worked at mx51, including Slide Science, Alexia.ai, Talent Engine.
mx51 attracts about 38 organic search visits a month, worth roughly $0K a month in equivalent ad spend.
The most common skills among mx51 staff are Leadership, Customer Service, Agile Methodologies, JavaScript, Microsoft Office.
mx51 staff are concentrated in Greater Sydney Area (15), New South Wales, Australia (14), Victoria, Australia (5).
mx51 has about 24 people in Engineering, up 4% over the past year, as of September 2026.
mx51 has about 9 people in Business Development, up 50% over the past year, as of September 2026.
Computed from 54 current and 91 former mx51 profiles, as of September 2026. Source: Crustdata.
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