Airwallex, a cross-border payment acceptance infrastructure provider, has raised a USD 100 million extension to its Series E funding round where it previously raised USD 200 million in September and USD 100 million in November last year. 

The funding comes from several investors including Square Peg, Salesforce Ventures, Sequoia Capital China, Lone Pine Capital, Hermitage Capital, 1835i Ventures, Tencent, HostPlus, and an unnamed North American pension fund. The round keeps Airwallex’s valuation flat at USD 5.5 billion and brings its total funding to over USD 900 million. 

The newly raised funds will be invested in product developments (including credit and expense management), geographic expansion, and potential M&As (including fraud prevention solutions).   

The company’s revenue reportedly grew 184% YoY in the past year as the customer numbers doubled. Meanwhile, ARR surpassed USD 200 million last month and Airwallex also reportedly processes nearly USD 50 billion in annualized transactions.