Thunes pockets $72M at a $900M+ valuation to expand its cross-border, B2B payment platform

Thunes, a Singapore and London-based fintech that has built a payments platform for businesses to send money to each other internationally by tapping into the growing network of mobile wallets and other alternatives to bank accounts, has closed its Series C round of funding to expand its business. The startup has raised $72 million, money that it will be using to continue adding more providers to its network, and to bring more customers onto its platform. We’ve confirmed that Thunes now has a valuation of over $900 million with this latest round.

Its platform has been on a fast growth curve since its last big funding round in 2021. Thunes currently has 3 billion mobile wallet accounts (compared to 720 million previously), plus another 4 billion bank accounts connected through its network of partners, which include the likes of M-Pesa in Kenya, WeChat across Asia, Uber, PayPal, MoneyGram, Remitly, and many more that are enabling their customers to make and take payments using Thunes’ rails. In all, Thunes currently covers some 300 payment methods across 80 currencies and allows payments out in 132 countries, with collections in 70 markets. And to date it’s processed more than $50 billion in transactions.

 

 

 

 

 

 

Read the full story at: