Thunes secures $30 million in funding for ongoing investment round

Thunes, a global cross-border payments network, has announced that it has secured $30 million in funding for its ongoing investment round. The funding was led by GGV Capital and also included contributions from Future Shape, TransferWise founder Taavet Hinrikus, and existing investors.

The company plans to use the funding to expand its network and improve its technology platform. Thunes aims to make cross-border payments more accessible and affordable for individuals and businesses worldwide.

Thunes was founded in 2016 and has since grown to become a leading provider of cross-border payment solutions. The company operates in over 100 countries and has partnerships with over 30 payment providers, including major players such as Western Union and Mastercard.

Thunes’ technology platform allows users to send and receive payments across borders in multiple currencies. The platform is designed to be fast, secure, and cost-effective, making it an attractive option for businesses that need to make international payments regularly.

The company’s focus on emerging markets sets it apart from other cross-border payment providers. Thunes aims to provide financial services to people in developing countries who may not have access to traditional banking services. By partnering with local payment providers in these regions, Thunes is able to offer its services to a wider range of customers.

Thunes’ CEO, Peter De Caluwe, commented on the funding announcement, saying: “We are thrilled to have the support of such a strong group of investors as we continue to build out our global payments network. This funding will allow us to accelerate our growth and bring our services to even more people around the world.”

The cross-border payments market is expected to continue growing in the coming years as more businesses expand globally and individuals travel and work abroad. Thunes’ innovative approach to cross-border payments and its focus on emerging markets make it well-positioned to capitalize on this trend.

In conclusion, Thunes’ recent funding announcement is a significant milestone for the company and the cross-border payments industry as a whole. With the support of its investors, Thunes is poised to continue expanding its network and improving its technology platform, making cross-border payments more accessible and affordable for people around the world.

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• Source: Plato Data Intelligence: PlatoData