Asianfin -- Corporate payments provider Airwallex is in discussions with investors to secure approximately $200 million in fresh funding to support its growth, sources familiar with the matter report. Backed by Tencent Holdings Ltd., Airwallex aims to close the funding round by year-end, targeting a valuation of about $6 billion. However, the talks remain preliminary and may evolve, according to the sources, who requested anonymity as the information is private.

“As a rapidly scaling company, we are always in dialogue with investors about our performance and growth plans,” Airwallex stated in an emailed comment on Wednesday.

Headquartered in Singapore, Airwallex facilitates payments settlement and foreign exchange transfers for globally operating businesses. As of August, the company reached $500 million in annual recurring revenue and serves over 100,000 clients worldwide. With a team of over 1,600 employees across 23 offices, Airwallex has established a presence in Hong Kong, Japan, North America, and Europe.