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Total amount raised
$352M
Latest funding date
2025-04-28
Location
Thunes has participated in 6 funding rounds, with the latest being a Series D round. The company is backed by 15 investors, including Apis Partners and Vitruvian Partners.
What Is Thunes?
Thunes, headquartered in Singapore, specializes in providing global payments infrastructure. The company operates within the financial services, FinTech, mobile payments, and payments industries. With a workforce of 251-500 employees, Thunes enables businesses and financial institutions to send and receive funds in various currencies.
Thunes offers a range of services, including Pay-to-Mobile-Wallets, Pay-to-Banks, Pay-to-Stablecoin-Wallets, Pay-by-QR-Code, and Pay-to-Cards. Their global network spans 130 countries, connecting banks, mobile wallets, and digital assets, ensuring secure and compliant transactions.
How Much Funding Has Thunes Raised?
- Series A
- Amount Raised: USD 10,000,000
- Date: May 2019
- Lead Investors: GGV Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enrich the service offering and platform and accelerate growth into emerging economies.
- Series B
- Amount Raised: USD 60,000,000
- Date: September 2020
- Lead Investors: Helios Investment Partners
- Participants: Checkout.com, GGV Capital, Future Shape
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand into new markets globally.
- Series B
- Amount Raised: USD 60,000,000
- Date: May 2021
- Lead Investors: Insight Partners
- Participants: GGV Capital, Helios Investment Partners, Checkout.com (existing shareholders)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and increase market penetration.
- Non-Equity Assistance
- Date: November 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational needs without diluting equity.
- Series C
- Amount Raised: USD 72,000,000 (raised in two tranches: initial $60M in June 2023, extended to $72M in July 2023)
- Date: July 2023 (final close)
- Lead Investors: Marshall Wace (led the initial $60M tranche)
- Participants: Bessemer Venture Partners, 01Fintech, Visa, EDBI, Endeavor Catalyst
- Valuation at Round: Over USD 900,000,000
- Motivation Behind the Round: To expand the cross-border B2B payment platform and address inefficiencies in traditional banking methods.
- Series D
- Amount Raised: USD 150,000,000
- Date: April 28, 2025
- Lead Investors: Apis Partners, Vitruvian Partners
- Participants: EDBI, Granite Asia, Visa (existing investors)
- Valuation at Round: Substantial valuation increase over the prior round; exact figure not publicly disclosed
- Motivation Behind the Round: To accelerate U.S. market expansion, strengthen operations in the Middle East and Latin America, and enhance technological infrastructure.
Total Amount Raised: USD 352,000,000 (across disclosed rounds). Current Valuation: Over USD 900,000,000 (as of Series C; Series D valuation not publicly disclosed).
Key Investors
- Apis Partners
- Details: Apis Partners is a private equity asset manager focused on growth markets. They specialize in financial services and related sectors. Co-led the Series D with a commitment of approximately US$75 million.
- Investment Focus Areas: Financial services, fintech, related sectors.
- Notable Investments: Not publicly disclosed.
- Vitruvian Partners
- Details: Vitruvian Partners is a European private equity firm that invests in dynamic situations, including growth capital and buyouts. Co-led the Series D alongside Apis Partners.
- Investment Focus Areas: Technology, financial services, healthcare.
- Notable Investments: Not publicly disclosed.
- Marshall Wace
- Details: Marshall Wace is a global alternative investment manager specializing in long/short equity strategies. Led the initial $60M tranche of Thunes' Series C in June 2023.
- Investment Focus Areas: Public and private equity across various sectors.
- Notable Investments: Klarna, TransferWise, Revolut.
- Insight Partners
- Details: Insight Partners is a global venture capital and private equity firm investing in high-growth technology and software companies. Led Thunes' second Series B round in May 2021.
- Investment Focus Areas: Software, internet, data services.
- Notable Investments: Not publicly disclosed.
- Helios Investment Partners
- Details: Helios Investment Partners is a private equity firm focused on investments in Africa across various sectors. Led Thunes' first Series B round in September 2020.
- Investment Focus Areas: Africa-focused private equity investments.
- Notable Investments: Not publicly disclosed.
What's Next for Thunes?
Thunes stands at the cusp of significant growth opportunities, driven by the increasing adoption of mobile wallets and digital payment methods. With a network that already connects billions of mobile wallet and bank accounts, the company is poised to expand its reach even further. Strategic partnerships, such as the one with Visa, will enable Thunes to enhance its service offerings and tap into new markets, particularly in emerging economies.
Future fundraising efforts are likely as Thunes continues to scale its operations and develop innovative solutions to industry challenges. The company's strong investor backing and successful funding rounds suggest a promising trajectory for additional investments. However, Thunes will need to navigate regulatory complexities and ensure the security and reliability of its platform to maintain its competitive edge.
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