Thunes just got a C! This Singapore-based B2B payment platform makes cross-border payments faster and easier for businesses. And they just announced an extended Series C!

• This pushes their Series C funding to a total of $72M. 
• They’ll be using the $$$ to bring in more customers and expand their network.

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Investor check. Visa, Singapore’s EDBI, and Endeavor Catalyst joined the round. 

• Last June, they raised their $60M Series C led by London-based hedge fund Marshall Wace, along with Bessemer Venture Partners and 01Fintech.

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💸 How they work

Sending money across borders can mean going through several platforms–just to make one payment! 

Thunes’ API lets you complete transfers in just one step.  

• Their tech allows businesses to provide more payment options (mobile payment options, on-demand payouts, etc) for their customers. 
• They already power payments for businesses like Payoneer, Deliveroo, and Grab.

Big networks. They also partner with fintechs like PayPal, Finastra, Revolut to streamline money transfers.

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🎶 Singing to the (Thunes)

Founded in 2016, Thunes focuses on emerging markets, where many are unbanked. And they’ve been on a roll lately!

Here’s a short timeline of their latest moves.  

• April ‘23. Secured a new French payment license, launching their product to the EU.
• October ‘22. Partnered with Visa Direct, enabling Visa customers to send $$$ to Africa, Asia, and Latin America wallets.
• April ‘22. Acquired a majority stake in anti-money laundering startup, Tookitaki. 
• May ‘21. Received $60M in a Series B growth round led by Insight Partners. 

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🎙️ Run the numbers

They’ve got 3B mobile wallet accounts, and another 4B accounts connected through their partners!