Singapore – Global cross-border payment infrastructure company Thunes has announced that it has extended its series C funding to US$72m, which comes after a US$60m funding from hedge fund Marshall Wace, alongside Bessemer Venture Partners and 01Fintech.
The extended funding was made possible by investments from global financial service company Visa, alongside EDBI and Endeavor Catalyst.
Thunes aims that through this extended funding, it can support its mission to address the inefficiencies of moving money internationally and create a next-generation payment system that is secure, instant and transparent.
Previously, Thunes and Visa have entered into a partnership in October 2022. In the partnership, Thunes B2B payments platform offered a send-to-wallet capability to 78 digital wallet providers globally. Using an API integration with Visa Direct, Visa’s customers can enable consumers and small businesses to send funds to eligible digital wallets in Africa, Asia, and Latin America, powered by the Thunes global network.
Peter De Caluwe, CEO at Thunes, said, “We’re proud to close Series C with such a strong roster of influential investors. Support from Visa, EDBI and Endeavor is a powerful endorsement of our strategy and capabilities, providing us with additional resources to develop innovative solutions to face industry challenges.”
He added, “By leveraging the insights and support of our investors, we will expand our network and offer businesses and consumers an unparalleled cross-border payments experience. I’m delighted to see an even deeper collaboration with Visa. Together, we will pave the way towards a global payment ecosystem that is inclusive, efficient and ubiquitous.”
