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Thunes Bags $30 Million in Ongoing Investment Round

Thunes, a Singapore-based company that specializes in providing financial services for making cross-border payments, announced the attraction of $30 million in investment funds during an ongoing funding round.

Thunes Bags $30 Million in Ongoing Investment Round

Source: Pixabay.com

In a statement sent by this company to the Singapore Accounting and Corporate Regulation Authority, it is said that one of the new investors of the firm, Marshall Weiss, has invested $ 30 million in the current round of financing.

The firm’s statement also indicates that discussions with global investors are conducted on an ongoing basis. The company continues to interact with owners of large financial resources and, based on this experience, concludes that the sphere of cross-border payments in the foreseeable future will maintain the dynamics of development and will enjoy a high level of demand from consumers.

The news about attracting new investment funds came after several very saturated months for Thunes. Over the past few months, the company has established a partnership with TenCent for incoming money transfers via WeChat. The firm has also integrated with Visa Direct. Another significant achievement of the company was the entry into the financial services market of Saudi Arabia, which became possible thanks to cooperation with Enjaz payment services.

In April 2022, the firm acquired a controlling stake in Tookitaki for $ 20 million, which specializes in developing solutions to combat money laundering and compliance mechanisms with the requirements of the regulatory framework. The emergence of these solutions and mechanisms in the Thunes global network allows representatives of the fintech industry and financial institutions not to introduce automated, optimized compliance processes into their payment systems.

Thunes’ clients are digital money transfer operators Moneygram, Western Union, and Remitely neobank Revolut, as well as fintech and mobile wallets Paypal, Singtel Dash, M-PESA, and Airtel. The firm tracks more than 180 million financial operations annually.

As we have reported earlier, Fintech Spiral Raises $28 Million for B2B.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.