Thunes, a global B2B cross-border payments network, announced on Tuesday it secured $60 million through its Series B funding round, which was led by Helios Investment Partners with participation from Checkout.com, GGV Capital, and Future Shape.
Founded in 2016, Thunes stated its platform provides a “seamless” transfer of funds between payment systems in more than 100 countries and 60 currencies.
“We enable mobile wallet providers, technology companies, PSPs, money transfer operators and banks to make financial services accessible worldwide.”
Thunes further noted it offers four key payment solutions:
- Remittance processing, which fosters worldwide financial inclusion
- Mass payouts, which support globalization and the sharing economy
- Virtual Accounts, which help corporates around the world boost their revenue
- Business payments, which enable businesses to trade easily across borders
Thunes further noted that the latest round of funding will drive the continued development of its global network and accelerate its expansion and growth in Africa, Asia, and Latin America. The funds raised will also be deployed to expand its team and product offerings, which includes business payments and collections from emerging markets. Speaking about the investment round, Peter De Caluwe, CEO of Thunes, stated:
“This marks a significant milestone in our next phase of growth as we strive towards helping financial institutions and businesses around the world move money between each other in a faster, more economical and reliable way. Our goal is to make financial services affordable and accessible to everyone.”
In May 2019, upon regulatory approval, Thunes raised $10 million Series A financing led by GGV Capital, a leading global venture firm. The Series B funding takes Thunes’ total funds raised to $70 million.