Total amount raised
$202 Millions
Latest funding date
7/1/2023
Location
Thunes has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The company specializes in providing a global cross-border payment infrastructure that supports seamless transactions across various currencies and countries.
Keep reading to delve into the details of Thunes' funding journey and discover the key investors backing this innovative platform.
What Is Thunes?
Thunes, founded in 2016, is headquartered in Singapore. The company specializes in providing a global cross-border payment infrastructure that supports seamless transactions across various currencies and countries.
Thunes was established by a team of industry experts, although the specific names of the founders are not publicly disclosed. The company has grown significantly and now employs between 251 and 500 people.
Thunes' platform enables businesses and customers to send and accept payments worldwide instantly, supporting 80 currencies and 132 countries. Their services cater to a wide range of industries, including digital merchants, banks, and mobile wallets.
How Much Funding Has Thunes Raised?
- Series A
- Amount Raised: $10M
- Date: May 2019
- Lead Investors: GGV Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish a robust global payment infrastructure and expand market reach.
- Series B
- Amount Raised: $60M
- Date: September 2020
- Lead Investors: Helios Investment Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance technological capabilities.
- Series B
- Amount Raised: $60M
- Date: May 2021
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the global network and improve service offerings.
- Non-Equity Assistance
- Amount Raised: -
- Date: November 2021
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational needs and strategic initiatives.
- Series C
- Amount Raised: $72M
- Date: July 2023
- Lead Investors: Marshall Wace
- Valuation at Round: $900M
- Motivation Behind the Round: To expand the business by adding more providers to its network and addressing inefficiencies in cross-border payments.
Total Amount Raised: $202M. Current Valuation: $900M.
Key Investors
- Marshall Wace
- Details: Marshall Wace is a London-based hedge fund known for its quantitative and systematic investment strategies. It has a significant presence in the global financial markets.
- Investment Focus Areas: Hedge fund investments, technology, financial services.
- Notable Investments: Not publicly disclosed.
- Insight Partners
- Details: Insight Partners is a leading global venture capital and private equity firm. It focuses on growth-stage technology and software companies.
- Investment Focus Areas: Technology, software, internet.
- Notable Investments: Shopify, Twitter, Wix.
- Helios Investment Partners
- Details: Helios Investment Partners is a private equity and venture capital firm based in London. It primarily invests in businesses across Africa.
- Investment Focus Areas: Financial services, telecommunications, energy.
- Notable Investments: Interswitch, Vivo Energy, Mall for Africa.
- GGV Capital
- Details: GGV Capital is a global venture capital firm that invests in early and growth-stage companies. It has a strong presence in both the U.S. and China.
- Investment Focus Areas: Consumer internet, enterprise tech, smart tech.
- Notable Investments: Alibaba, Slack, Square.
- Visa
- Details: Visa is a global payments technology company that facilitates electronic funds transfers worldwide. It is known for its extensive network of credit, debit, and prepaid cards.
- Investment Focus Areas: Payment technology, financial services, digital wallets.
- Notable Investments: Stripe, Square, Klarna.
What's Next for Thunes?
Thunes is poised to capitalize on the growing demand for efficient cross-border payment solutions. With a network that already connects billions of mobile wallet and bank accounts, the company is well-positioned to expand its reach by adding more providers and customers. The strategic partnership with Visa further enhances its capabilities, aiming to extend Visa Direct’s reach to 1.5 billion digital wallets globally.
Future fundraising opportunities seem promising as Thunes continues to scale its operations and develop innovative solutions. The successful Series C round and strategic partnerships suggest potential for additional funding rounds to support its ambitious growth plans. However, the company may face challenges such as navigating regulatory requirements and ensuring the security and reliability of its platform.
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