Cross-border payments company Thunes raises $30m, so far


Thunes, a cross-border payments FinTech company, has reportedly raised $30m in an ongoing Series C funding round.

The capital was supplied by London-based hedge fund Marshall Wace, according to a report from PYMNTS. Thunes did not outline what the total size of the Series C round is or who any of the other backers are.

In a statement to PYMNTS, it said, “Our conversations with global investors are constant and ongoing, and as we continue to engage with them, we see a strong interest in Thunes’ capabilities, as well as a belief that the cross-border payments sector will continue to grow and see strong demand.”

Headquartered in Singapore, Thunes is building a global payment infrastructure to improve payment experiences. It offers a simple connection to APIs that allow businesses and customers to send and receive payments from all parts of the world.

Its features include cross-border payments, business payments, virtual accounts, mass payouts, collections and a business hub.  

Last year, Thunes acquired a $20m majority stake in AML and compliance technology company Tookitaki.

The deal added Tookitaki’s compliance and AML tools into the Thunes global network, allowing businesses to better safeguard their operations and bolster transparency around payment flows.

Another major development from Thunes in 2022 was an expansion in Greater China. The company revealed its plans to build local partnerships with local digital payment providers to make faster and cheaper payments to and from China. For the expansion, its eyes are set on mainland China, Taiwan, Macau and Hong Kong.  

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