Global payments provider Visa is considering the possibility of taking part in a new funding round of Airwallex, a fintech startup based in Australia, reported Bloomberg.

Citing sources familiar with the development, the news agency said that Visa is having discussions to participate in an extended series E funding round of Airwallex.

With the extension, Airwallex aims to increase its funding from $100m to $150m.

Apart from Visa, several current shareholders of Airwallex could take part in the new financing round.

However, no deals have been finalised yet, Bloomberg said.

In November last year, Airwallex secured $100m investments in a series E1 financing round led by Lone Pine Capital, bringing its valuation to around $5.5bn.

The new extension is expected to bring the valuation of the company on the equal footing.

Representatives from both Visa and Airwallex have reportedly refused to divulge any information on the matter.

Established in 2015, Airwallex provides cross-border end-to-end payments and collection services.

The company is said to employ approximately 1,000 people across 19 locations in China, Australia, Japan, the US and the UK.

Last month, Airwallex announced that it had introduced its global payment services in New Zealand.

The expansion aligns with the company’s policy to support its growth in Africa, the Middle East, and India (ANZ region).