Thunes Raises $30 Million In Ongoing Investment Round

Thunes has received a $30 million Series C fundraising round for its cross-border payment solutions.

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Thunes stated in an official statement issued to Trade Algo this Friday that one of the investors with whom it works, Marshall Wace, committed $30 million in the round in a filing with Singapore's Accounting and Corporate Regulation Authority (March 24).

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According to the statement, the Singapore-based business is unable to comment on any other possible investors or the entire value of the financing round.

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"Our discussions with global investors are constantly and ongoing," the statement stated, "and as we continue to engage with them, we perceive a significant interest in Thunes' capabilities, as well as a view that the cross-border payments sector will continue to develop and experience high demand."

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This news follows Thunes' announcements of collaborations and other initiatives.

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In November, the company partnered with China's Tencent Financial Technology to allow Thune's network members to transfer payments through Tencent's Weixin service, also known as WeChat worldwide.

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"We are thrilled to be able to connect our global customers with Weixin's massive consumer base, opening up tremendous opportunities for service enhancement and revenue generation for all members of our ecosystem," Daphne Huang, Thune's senior vice president for the Asia-Pacific (APAC) region, said at the time.

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Thunes and Visa collaborated a month ago to let consumers and small- to medium-sized companies (SMBs) utilize Visa Direct to transfer money worldwide to 78 digital wallet providers, totaling 1.5 billion digital wallets in 44 countries and territories.

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Thunes CEO Peter De Caluwe stated at the time, "With the combined force of Visa's size and Thunes' payment infrastructure, this cooperation has the potential to help build a new global age for equitable and accessible global payments."

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Thunes announced in April that it will buy a controlling investment in Tookitaki, an anti-money laundering (AML) and compliance platform, for $20 million in order to accelerate worldwide expansion for both companies.

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"We've already discovered many opportunities to accelerate our growth together while boosting the value we deliver to our clients," De Caluwe stated.

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