Thunes, a global cross-border payments network, has recently announced that it has secured $30 million in an ongoing investment round. The funding was led by GGV Capital, with participation from Future Shape, Rocket Internet, and existing investors. This latest round of funding brings Thunes’ total funding to $70 million.
Thunes was founded in 2016 with the aim of providing a seamless and affordable cross-border payments network for businesses and individuals. The company’s platform allows users to send and receive money across borders in a fast, secure, and cost-effective manner. Thunes’ network connects over 100 countries and supports more than 60 currencies.
The company’s success can be attributed to its innovative approach to cross-border payments. Thunes has developed a network of partnerships with financial institutions, mobile wallet providers, and other payment service providers around the world. By leveraging these partnerships, Thunes is able to offer its customers a wide range of payment options and access to local payment networks.
Thunes’ platform is particularly beneficial for businesses that operate in emerging markets. These markets often have limited access to traditional banking services, making it difficult for businesses to make cross-border payments. Thunes’ platform offers a solution to this problem by providing access to a wide range of payment options that are tailored to the needs of each market.
The $30 million in funding will be used to further develop Thunes’ platform and expand its global reach. The company plans to use the funding to hire additional staff, invest in technology, and expand its network of partnerships. Thunes also plans to use the funding to expand its presence in key markets such as Asia, Africa, and Latin America.
Thunes’ success in securing this latest round of funding is a testament to the growing demand for cross-border payment solutions. As more businesses operate on a global scale, the need for fast, secure, and affordable cross-border payments will only continue to grow. Thunes is well-positioned to meet this demand and is poised for continued growth in the years to come.
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- Source: Plato Data Intelligence: PlatoData