Australian financial technology company Airwallex Pty Ltd. has raised $160 million in new funding to accelerate worldwide growth in Europe, the U.S. and new markets as well as to expand its product lineup and make acquisitions.

The Series D round was led by ANZi Ventures and Salesforce Ventures and included DST Global, Tencent, Sequoia Capital China, Hillhouse Capital and Horizons Ventures.

Founded in 2015, Airwallex offers a cross-border payment service designed to assist companies doing business in multiple nations using a variety of currencies that don’t have the resources to develop a payment system of their own. The company pitches itself as different from others in the fintech payment business by using machine learning to identify the fastest and cheapest route through which payments can reach their destination.

Airwallex offers a variety of tools to users, including a built-in invoice creation tool and the ability to lock the exchange rate for each payment to prevent sudden currency shifts from affecting its client’s revenue. More recently the company launched Airwallex Borderless Cards in partnership with Visa and integration with Xero.

While primarily offering services to small to medium-sized enterprises, Airwallex also offers a suite of enterprise products to assist larger businesses with complex financial needs including mass international and domestic payments. A recently launched application programming interface has been designed to enable enterprises to generate and issue payment cards to their own networks.

“From the very beginning, our vision has been to lead the transformation of global financial infrastructure,” Jack Zhang, co-founder and chief executive officer and of Airwallex, said in a statement. “We have stayed true to our vision by building the Airwallex platform with fast and agile technology, continually improving our product and investing in dedicated support teams.”

Including the new funding, Airwallex has raised $362 million to date. Previous rounds include $13 million in 2017 and $80 million in 2018.

Image: Airwallex