Thunes, a leading cross-border payments network, has secured $30 million in an ongoing investment round to fuel its business expansion plans. The funding round was led by global venture capital firm GGV Capital, with participation from existing investors like Helios Investment Partners, Checkout.com, and Future Shape.
Thunes was founded in 2016 with a mission to make financial services more accessible and inclusive for everyone, regardless of their location or economic status. The company operates a global payments network that connects businesses, financial institutions, and mobile wallet providers in over 100 countries.
Thunes’ platform enables seamless cross-border payments, remittances, and other financial transactions, using a range of payment methods such as bank transfers, mobile money, and cash pick-up. The company’s clients include leading e-commerce platforms, digital wallets, and remittance providers.
With the new funding, Thunes plans to expand its network and product offerings, as well as invest in technology and talent. The company aims to strengthen its presence in key markets such as Africa, Asia, and Latin America, where there is significant demand for cross-border payments and financial services.
Thunes CEO Peter De Caluwe said in a statement, “We are thrilled to have the support of GGV Capital and our existing investors as we continue to build the infrastructure for the future of cross-border payments. This funding will enable us to accelerate our growth and bring our services to more people and businesses around the world.”
GGV Capital Managing Partner Hans Tung added, “We are excited to partner with Thunes as they continue to transform the cross-border payments landscape. Thunes’ innovative platform is making financial services more accessible and affordable for millions of people globally, and we look forward to supporting their continued growth.”
The COVID-19 pandemic has accelerated the shift towards digital payments and e-commerce, creating new opportunities for companies like Thunes. The global cross-border payments market is expected to reach $2.6 trillion by 2025, according to a report by Allied Market Research.
Thunes’ latest funding round reflects the growing investor interest in fintech companies that are driving financial inclusion and innovation. The company has raised over $70 million to date and is well-positioned to capitalize on the growing demand for cross-border payments and digital financial services.
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