Media reports indicate that Airwallex, a payments platform, is currently in talks to raise $200 million in investment funds.

Journalists, citing anonymous insiders, on Wednesday, October 30, released information according to which the mentioned company intends to close the financing round by the end of the current year. The media also clarified that in this case, the payment platform targets a valuation of $6 million.

Airwallex stated that, as a fast-scaling company, it is always in dialogue with investors about performance and growth plans. Two years ago, the company was valued at $5.5 billion. The corresponding figure was achieved after the firm raised $100 million. Currently, the company’s market capitalization is at $5.6 billion.

Airwallex was founded in Australia in 2015. The company provides bill payments to firms that employ workers worldwide. Airwallex also offers its customers products for expense management, and multi-currency debit cards and helps small businesses create local currency accounts around the globe.

In August, the company announced that its yearly processing volume had exceeded the $100 billion mark. The corresponding indicator increased by 73% year-on-year. The company also reached a positive cash flow last year. Moreover, the firm recorded volume growth across all products such as payments, foreign exchange (FX), payouts, and issuing. The annual revenue in this case is about $500 million.

This week, Airwallex teamed with Viably on a solution that allows companies belonging to the e-commerce category to simplify cross-border transactions and manage multiple currencies in a single account.

As we have reported earlier, Airwallex Expands to U.S.