Global FinTech platform Airwallex announced on Monday it has raised $200 million in an oversubscribed Series E financing round, increasing the company’s valuation to $4 billion.

This latest investment follows an extended Series D capital raise earlier this year in March, the company said in a statement.

This latest round was led by US-based investment firm Lone Pine Capital. New investors G Squared and Vetamer Capital also joined the round, alongside existing investors including 1835i Ventures (formerly ANZi), DST Global, Salesforce Ventures and Sequoia Capital China.

With the completion of Series E, Airwallex has achieved more than $700 million in equity funds raised to date.

The investment will support Airwallex’s global expansion and enable the company to accelerate multiple product development initiatives across its five engineering hubs, grow its sales and commercial teams and increase its breadth of offerings for SMEs and larger enterprises operating in the digital economy, Airwallex said.

“This additional capital enables us to scale our presence in North America, UK, Europe and other new markets including the Middle East, South America, and Southeast Asia, and become a dominant leader in global payments,” Airwallex Co-Founder and Chief Executive Officer Jack Zhang said.

Airwallex has seen significant business growth in the last year, recording a year-over-year revenue growth of nearly 150 percent for the first half of 2021, and processing more than $20 billion for a global client portfolio that has quadrupled in size, serving innovative global businesses such as GOAT, Papaya Global and Stake.

The company has nearly doubled its headcount in 2021 and employs almost 1,000 employees today in over 20 locations globally.

This year, Airwallex has launched a series of new products and reached major milestones with its global expansion plans, opening for business in the U.S. last month, as well as securing an EMI license in the Netherlands and a Money Services Business license in Malaysia.

Airwallex secures money services business license in Malaysia, now positioned for growth in Southeast Asia