Thunes, a global cross-border payments network, has secured $30 million in an ongoing investment round to fuel its business growth and expansion. The funding round was led by Africa-focused investor Helios Investment Partners, with participation from Checkout.com, GGV Capital, and Future Shape.
Thunes was founded in 2016 with the aim of creating a more inclusive global payments network that would enable businesses and individuals to send and receive money across borders quickly, securely, and at a lower cost. The company has since built a network that connects over 1000 financial institutions and payment providers in more than 100 countries, enabling seamless cross-border payments for businesses of all sizes.
With the new funding, Thunes plans to accelerate its growth and expand its product offerings to meet the needs of its customers. The company will invest in technology development, product innovation, and talent acquisition to enhance its platform’s capabilities and improve the user experience.
Thunes CEO Peter De Caluwe said, “We are thrilled to have the support of such a strong group of investors as we continue to build our global payments network. This funding will enable us to accelerate our growth and expand our reach, bringing our innovative solutions to even more businesses around the world.”
The COVID-19 pandemic has accelerated the shift towards digital payments, with businesses and consumers increasingly turning to online transactions to avoid physical contact. Thunes’ cross-border payments network has become even more critical in this context, enabling businesses to continue operating globally despite travel restrictions and other challenges.
Helios Investment Partners’ co-founder and managing partner Tope Lawani said, “We are excited to partner with Thunes as it continues to build a world-class cross-border payments platform. Thunes is well-positioned to capture the significant growth opportunities in the global payments market, and we look forward to supporting the company’s expansion.”
Thunes’ latest funding round follows a $60 million Series B round in 2019, which was led by Insight Partners and included participation from GGV Capital, Global Brain, and TransferWise co-founder Taavet Hinrikus. The company has raised a total of $130 million to date and is poised for further growth as it continues to disrupt the global payments industry.
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