Thunes, the global B2B payment infrastructure platform, announced the addition of three prominent investors – Visa, a world leader in digital payments, EDBI, a Singapore-based global investor and Endeavor Catalyst, a San-Francisco co-investment fund of Endeavor – to its Series C funding round, „supporting its mission to address the inefficiencies of moving money internationally and create a next-generation payment system that is secure, instant and transparent” – according to the press release.
This investment brings the total Series C funding to USD $72m, coming shortly after Thunes announced an investment of $60m led by London-based hedge fund Marshall Wace with support from Bessemer Venture Partners and Southeast Asian private equity firm 01Fintech.
Thunes already has an ongoing global partnership with Visa. In October 2022, Visa and Thunes announced a strategic collaboration to extend Visa Direct’s reach to 1.5 billion digital wallets. Through this partnership, Thunes B2B payments platform offers a send-to-wallet capability to 78 digital wallet providers globally. Using an API integration with Visa Direct, Visa’s customers – financial institutions, governments, neobanks and money transfer operators – can enable consumers and small businesses to send funds to eligible digital wallets in Africa, Asia, and Latin America, powered by the Thunes global network.
“Digital wallets play a key role in providing underserved communities with greater economic empowerment and financial inclusion by penetrating previously unreached regions. Visa is proud to take part in Thunes’ Series C investment round and we look forward to continuing our collaboration aimed at providing more customers around the world with quick and simple access to the financial system through digital wallets.” said Ruben Salazar Genovez, Global Head of Visa Direct.
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Founded in 2016, Thunes is a global B2B payment infrastructure platform that powers payments for the world’s fastest-growing businesses – from gig economy giants such as Uber and Deliveroo and Southeast Asia’s super-app Grab to global fintech leaders such as PayPal, Remitly, Finastra and Revolut.
Through a single, simple connection, consumers and businesses can send payments to – and get paid in – every corner of the world. Thunes currently supports 80 currencies, enables payments to 132 countries and helps to accept 300 payment methods.
In April 2022, Thunes acquired a controlling stake in a leading anti-money laundering and compliance platform company Tookitaki, which now enables the company’s advanced compliance, anti-fraud and anti-money laundering capabilities, setting an international benchmark for sustainable compliance.
The company is headquartered in Singapore, with regional offices in London, Paris, Shanghai, Beijing, Dubai, Hong Kong, Barcelona, Miami and Nairobi. Current investors include Visa, EDBI, Endeavor Catalyst, Marshall Wace, Bessemer Venture Partners, 01Fintech, Future Shape, Insight Partners, Checkout.com, Helios Investment Partners and GGV Capital.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
