Westpac-backed banking technology company mx51 has raised $25 million only a year after splitting from Assembly Payments, having already processed $1 billion of transactions.
Founded by former Westpac executive and Assembly Payments co-chief executive Victor Zheng, mx51 offers a white label solution for banks and non-bank acquirers to offer merchants a multi-channel payments platform, which rivals the likes of Stripe, Tyro and Square.
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Yolanda Redrup is the editor of the AFR Rich List. She previously reported on technology, healthcare and Street Talk. Connect with Yolanda on Twitter. Email Yolanda at yolanda.redrup@afr.com
