Visa Participates In The Thunes Series C Extension Round

Thunes, a company that helps people make payments across borders, has increased its Series C funding to $72 million with help from Visa, EDBI, and Endeavour catalyst.

Thunes got $60 million last month from London hedge fund Marshall Wace, with help from Bessemer Venture Partners and Southeast Asian private equity company 01Fintech. The new $12 million in equity financing comes after Thunes got the $60 million last month.

The funding comes after a busy few months for Thunes, which recently opened an office in Beijing, partnered with TenCent for inbound transfers over WeChat, integrated with Visa Direct, and went into Saudi Arabia through a partnership with Enjaz Payment Services.

CEO of Thunes, Peter De Caluwe, says:

“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.

And as a Singapore-based company, EDBI’s backing is also incredibly important to us. Though our business has a global nature, Singapore continues to serve as our home-base and we are proud to be deeply embedded in this dynamic global fintech hub. This supportive ecosystem provides us great benefits, with a market for top talent, an excellent infrastructure, and a progressive regulator at the forefront of financial innovation.”

Thunes currently works with 80 different currencies, allows payments to be sent to 132 different countries, and helps accept 300 different payment ways. Customers of the company include Uber, Deliveroo, and Southeast Asia’s super-app Grab, as well as PayPal, Remitly, Finastra, and Revolut, which are all top global fintechs.