Brex Co-Founder & CEO Henrique Dubugras. Photo credit: Steve Jennings/Getty Images for TechCrunch, under Creative Commons license

Payments startup Brex has announced it’s raised an additional $150 million in funding led by DST Global, already an existing investor in the company. The new funding is an extension of Brex’s Series C rather than a new funding round. Brex says the new funding gives a “slight premium” to its post-money valuation, which stood at about $2.6 billion as of the company’s last equity fund-raise. Brex seems to have raised this funding to bolster its balance sheet in the middle of an uncertain business environment resulting from the coronavirus pandemic.

With the new funding, Brex has now raised more than $400 million in equity funding. The company has also secured about $300 million in credit facilities.