Cross-border payments Fintech Thunes revealed earlier this week that it acquired Limonetik, a European Payment Methods Platform.
The latest acquisition by Thunes should complement the Fintech firm’s existing cross-border payments solutions by enabling companies or businesses to get paid in 70 different countries, using more than 285 local payment methods, including mobile wallets, payment by instalments (BNPL), QR code payments, and various other options. The solution will be called Thunes Collections.
As noted in a release, Limonetik is one of the “earliest” developers of an alternative payment methods platform that is “suitable for international merchants and marketplaces.” And like Thunes, the company closely works with different payment service providers (PSPs) and financial institutions.
Handling over EUR 2 billion a year, Limonetik is “trusted” by more than 14,000 merchants, marketplaces and Fintech players – which includes Deliveroo, Uber Eats, Veepee, CMA – CGM, Worldline – Ingenico, ACI, Amadeus and Natixis.
Established in Paris in 2007, Limonetik is led by CEO & co-founder Christophe Bourbier, a well-known entrepreneur and payment space professional. Today, Limonetik “counts 50 employees who will become Thunesters.”
As noted in the announcement:
“Rapid growth in cross-border e-commerce trade has made it essential for global sellers to accept payments in locally preferred methods. There are over 400 alternative payment methods, and this diversity brings integration complexity and back-office costs that Limonetik’s offering resolves with a single API integration. We believe collecting funds globally should be easy regardless of customer location.”
By joining the Thunes payment and collection networks, companies and their clients are able to send payments to – and get paid in – “even the hardest-to-reach corners of the world.” With a single, simple connection, Thunes provides fast, transparent, and affordable payments and will now also “enable more flexible ways to collect funds.”
Peter De Caluwe, CEO of Thunes, stated:
“Thunes is recognised for our far-reaching global network and brilliantly simple payments solution. We are excited to further strengthen our offering with a global collections capability made possible through the acquisition of Limonetik. We welcome the Limonetik team to Thunes, and as one, we look forward to offering a single end-to-end payment solution that connects every corner of the world and makes the global economy accessible to all.”
Christophe Bourbier, founder of Limonetik, added:
“Limonetik has been driving the transformation of collections with its platform-as-a-service (PaaS) model, while Thunes possesses a powerful global payments network. We are incredibly excited to extend our combined payments and collections solutions across the world.”
Thunes is also introducing a new brand identity, which includes a new logo and website “to better reflect its well-established market position and expanding service offerings.”
These changes have come around 4 years after Thunes’ launch and the firm’s diversification and scaling of its business while expanding its international footprint.
In May 2021, Thunes secured $60 million through a Series B growth round led by global private equity and venture capital firm Insight Partners, bringing the firm’s total funding to $130 million in just 2 years. Insight Partners’ support “enables Thunes to speed up investment in its operations, product and technology.”