Children's newspaper Crinkling News has been thrown a lifeline after raising more than $200,000.
The weekly national paper beat its fundraising target on Thursday, the day after editor Saffron Howden and two of her junior reporters appeared at a Senate inquiry into the future of Australian journalism.
Almost $210,000 was raised only hours before the campaign was due to expire, and Ms Howden said it would go towards making the paper self-sustaining.
"We have an incredible amount of work to do now. People have put a huge amount of faith in us," she said.
"The next step [is] bringing that expertise into the business, and resources into the business that we weren't able to do without that extra seed funding."
Ms Howden launched the campaign two weeks ago and did not think it would hit its target until Wednesday night.
"I was lying in bed and could hear my phone pinging with the pledges coming in," she said.
"Up until last night, I wasn't banking on anything."
Crinkling News is written by adults but children write opinion pieces, reviews and act as junior reporters.
Ms Howden said that children wanted to know what was going on in the world.
She told the Senate inquiry on Wednesday about the importance of helping them understand the difference between real and "fake" news, and how to navigate social media.
The inquiry was launched earlier in May after Fairfax Media announced it would cut 125 full-time jobs from its major metropolitan mastheads.