Australian fintech company Airwallex said on Tuesday (Oct 11) it raised US$100 million in an extension of funding round, sustaining its US$5.5 billion valuation.

The Melbourne-based business claimed to have raised more capital from its current backers, including Tencent Holdings, Sequoia Capital China, and Lone Pine Capital.

HostPlus, an Australian industry superannuation fund, as well as a North American pension fund, took part in the round, according to Airwallex.

The Series E expanded round raised US$100 million, bringing Airwallex’s total fundraising to over US$900 million.

“The market environment remains challenging in the foreseeable future, and while we remain well capitalized, this additional runway allows us to continue our growth plans,”

                                        Jack Zhang, co-founder and chief executive officer of Airwallex.

Airwallex reported that its income had increased by 184% year over year and that its client base had more than doubled. Airwallex offers customers the ability to generate and pay worldwide invoices and bills using its payments platform.