Thunes, the Singapore-based operator of a cross-border payment network, received $60m in series B funding from investors including payment techniology producer Checkout.com yesterday.
The round was led by Africa-focused investment firm Helios Investment Partners and also featured venture capital firm GGV Capital and investment and advisory firm Future Shape.
Founded in 2016, Thunes runs an online network that enables businesses such as banks, technology companies, mobile wallet producers and money transfer service providers to make and receive payments across more than 100 countries and 60 currencies.
GGV Capital had previously led Thunes’ $10m series A in May 2019, and the company also identified Future Shape as a returning investor. It will put the latest funding into increasing headcount and expanding in emerging regions such as Africa, Asia and Latin America.
Guillaume Pousaz, Checkout.com’s founder and chief executive, said: “As a leading, profitable payment provider, Checkout.com has the opportunity to support entrepreneurs who strive towards our vision of connected finance.
“Thunes closely aligns to this, with a mission to build the rails which facilitate greater payment options in the emerging markets and unite leading financial institutions on one platform. We have followed Thunes’ growth and recognise the company as a pioneer in cross-border payment solutions. We look forward to working closely with them.”
