Company:Thunes

From HandWiki
Thunes
TypePrivate
IndustryFinancial technology
PredecessorTransferTo
Founded2016
Number of locations
Atlanta, Barcelona, Beijing, Dubai, Hong Kong, Johannesburg, London, Manila, Nairobi, Paris, Riyadh, San Francisco, Singapore, Shanghai
Area served
Worldwide
ProductsCross-border payments, financial infrastructure
Websitethunes.com

Template:Independent sources Thunes is a Singapore-based financial technology company that provides cross-border payment infrastructure for financial institutions, businesses, and payment providers.[1] Its network enables transactions to digital wallets, bank accounts, stablecoin wallets and cash outlets.[2][3][4] Thunes is also collaborating with Circle to enable cross-border settlements using the stablecoin USDC.[5][6] Thunes is regulated as a ''Major Payment Institution'' by the Monetary Authority of Singapore.[7]

History

Thunes originated from TransferTo[8], a Singapore-based mobile payments company founded in 2005.[9] In 2016, TransferTo was reorganized into two separate businesses: DT One, which continued to handle mobile top-ups and rewards, and Thunes, which focused on cross-border payments.[10]

Later, Thunes expanded its payment network to support international transfers between banks, mobile wallets, and payment providers. In 2020, the company secured Series B funding led by Helios Investment Partners, with participation from Checkout.com and GGV Capital.[11]

In 2021, Thunes acquired Limonetik, a Paris-based online payment platform. In April 2022, Thunes acquired a majority stake in the Singapore-based regtech startup Tookitaki, expanding its compliance and anti-money-laundering capabilities.[12] The company has since secured additional funding, including a Series C in 2023 led by Marshall Wace and a Series D in 2024 led by Apis Partners and Vitruvian Partners to support its expansion in the United States and other markets.[13][14][15][16]

In June 2025, the company announced the acquisition of Tilia, strengthening its global payments infrastructure and services.[17]

Peter De Caluwe, one of the company's co-founders, serves as chief executive officer.[18][19]

Operations and regulation

Thunes operates a global network that connects banks, payment service providers, merchants and mobile wallet operators to enable cross-border payments.[20] Its platform supports various payout and collection methods and is used for remittances, e-commerce payments, and other financial transfers. The company enables interoperability between different payment systems, allowing them to exchange and process transactions.[21]

The company's platform supports multiple payout and collection methods, and is used for remittances, e-commerce payments, and other financial transfers. Thunes is regulated as a ''Major Payment Institution'' by the Monetary Authority of Singapore and an Authorised Payment Institution by the UK's Financial Conduct Authority. It also holds a Payment institution License issued by Autorité de Contrôle Prudentiel et de Rèsolution (ACPR) in France and a ''Money Service Operator'' license in Hong Kong.[22]

In the United States, Thunes obtained money transmitter licenses in 50 states.[23]

In September 2025, it launched in Morocco[24] and started cooperation with Ripple.[25]

Investors and partnerships

Thunes has received investment from several global firms, including Apis Partners, Vitruvian Partners, Marshall Wace, Bessemer Venture Partners, Helios Investment Partners,[26] Checkout.com, and GGV Capital.[27][28][29][30]

Some of these investors have also collaborated with Thunes to support the expansion of its payment network in emerging markets.[31][32]

Thunes has also announced partnerships with Mastercard,[33] Circle,[34] Visa[35][36] and PayPal.[37] In October 2025, it partnered with Ecobank, pan-African banking conglomerate.[38]

References

  1. ↑ Shu, Catherine (2022-10-19). "Thunes integrates with Visa Direct's digital payments network" (in en-US). https://techcrunch.com/2022/10/19/thunes-integrates-with-visa-directs-digital-payments-network/. 
  2. ↑ Lunden, Ingrid (2023-07-17). "Thunes pockets $72M at a $900M+ valuation to expand its cross-border, B2B payment platform" (in en-US). https://techcrunch.com/2023/07/17/thunes-pockets-72m-at-a-900m-valuation-to-expand-its-cross-border-b2b-payment-platform/. 
  3. ↑ "Thunes and Swift power banks to facilitate mobile wallet payments" (in en-US). https://ibsintelligence.com/ibsi-news/thunes-and-swift-power-banks-to-facilitate-mobile-wallet-payments/. 
  4. ↑ "Thunes initiates global instant payouts in stablecoins - Asset Servicing Times". https://www.assetservicingtimes.com/assetservicesnews/industryarticle.php?article_id=17311. 
  5. ↑ Dharma, RanjithKumar (2024-10-30). "Thunes and Circle partner to ease cross-border payments with stablecoin" (in en-US). https://www.electronicpaymentsinternational.com/news/thunes-circle-payments-stablecoin/. 
  6. ↑ "Thunes partners with Circle to support stablecoin transactions" (in en). https://thepaypers.com/crypto-web3-and-cbdc/news/thunes-partners-with-circle-to-support-stablecoin-transactions. 
  7. ↑ Thompsett, Louis (2025-04-28). "How Thunes Secured US$150m Series D Investment" (in en). https://fintechmagazine.com/articles/how-thunes-secures-150m-series-d-investment. 
  8. ↑ Singapore, Fintech News (2020-09-08). "Singapore-Based Thunes Raises US$60M in Series B Funding" (in en-US). https://fintechnews.sg/43534/funding/singapore-based-thunes-raises-us60m-in-series-b-funding/. 
  9. ↑ Penn, David (2019-02-20). "TransferTo Rebrands as DT One and Thunes" (in en-US). https://finovate.com/transferto-rebrands-as-dt-one-and-thunes/. 
  10. ↑ "TransferTo announces rebrand with the creation of two market defining companies: DT One and Thunes | DT One" (in en). https://www.dtone.com/post/transferto-announces-rebrand-with-the-creation-of-two-market-defining-companies-dt-one-and-thunes. 
  11. ↑ jhaxell (2021-05-21). "Thunes scores $60m in Series B after 100% YoY growth" (in en-GB). https://fintech.global/2021/05/21/thunes-scores-60m-in-series-b-after-100-yoy-growth/. 
  12. ↑ "Tech in Asia - Connecting Asia's startup ecosystem" (in en-US). https://www.techinasia.com/thunes-buys-majority-stake-regtech-startup-tookitaki. 
  13. ↑ Kelly, Tom (2025-04-28). "Thunes Raises USD 150 Million in Series D Funding Round" (in en-US). https://www.thunes.com/news/thunes-raises-usd-150-million-in-series-d-led-by-apis-partners-and-vitruvian-partners/. 
  14. ↑ PYMNTS (2025-04-28). "Thunes Raises $150 Million to Expand Cross-Border Payments Platform" (in en-US). https://www.pymnts.com/news/investment-tracker/2025/thunes-raises-150-million-to-expand-cross-border-payments-platform/. 
  15. ↑ "Thunes raises $150 million in Series D" (in en). 2025-04-28. https://www.finextra.com/newsarticle/45886/thunes-raises-150-million-in-series-d. 
  16. ↑ "Fintechs Thunes And GCash Introduce Cross-Border Digital Wallet Top-Up Solution | Crowdfund Insider" (in en-US). 2024-11-06. https://www.crowdfundinsider.com/2024/11/232063-fintechs-thunes-and-gcash-introduce-cross-border-digital-wallet-top-up-solution/. 
  17. ↑ "Thunes to purchase Tilia" (in en). https://thepaypers.com/payments/news/thunes-to-acquire-tilia. 
  18. ↑ Thunes (2024-01-09). "Thunes expands its leadership to accelerate growth - Thunes" (in en-US). https://www.thunes.com/news/thunes-expands-its-leadership-to-accelerate-growth/. 
  19. ↑ "For Gen Z, bank accounts and cash are out, mobile wallets are in" (in English). https://www.computerworld.com/article/1620422/for-gen-z-bank-accounts-can-cash-are-out-mobile-wallets-are-in.html. 
  20. ↑ PYMNTS (2025-04-28). "Thunes Raises $150 Million to Expand Cross-Border Payments Platform" (in en-US). https://www.pymnts.com/news/investment-tracker/2025/thunes-raises-150-million-to-expand-cross-border-payments-platform/. 
  21. ↑ "Thunes White Paper: Achieving Seamless Payment Integration" (in en). https://thepaypers.com/fintech/expert-views/thunes-white-paper-review-achieving-seamless-cross-border-payments-integration. 
  22. ↑ Blakey, Douglas (2023-06-06). "Thunes completes Series C funding, raises $60m to accelerate growth" (in en-US). https://www.electronicpaymentsinternational.com/news/thunes-completes-series-c-funding-round-raises-over-60m/. 
  23. ↑ "Thunes obtains money transmission licences in US" (in en-US). Yahoo Finance. https://finance.yahoo.com/news/thunes-obtains-money-transmission-licences-103707207.html. 
  24. ↑ hslade (2025-09-09). "Thunes launches real-time payments in Morocco" (in en-GB). https://fintech.global/2025/09/09/thunes-launches-real-time-payments-to-morocco/. 
  25. ↑ Munnangi, Vidhya Edwards (2025-09-03). "Thunes and Ripple expand cross-border payments partnership" (in en-US). https://www.electronicpaymentsinternational.com/news/thunes-ripple-cross-border-payments/. 
  26. ↑ Shu, Catherine (2020-09-08). "Thunes raises $60 million for cross-border payments in emerging markets" (in en-US). https://techcrunch.com/2020/09/08/thunes-a-fintech-startup-serving-emerging-markets-raises-60-million-led-by-africa-focused-helio-investment-partners/. 
  27. ↑ Blakey, Douglas (2023-06-06). "Thunes completes Series C funding, raises $60m to accelerate growth" (in en-US). https://www.electronicpaymentsinternational.com/news/thunes-completes-series-c-funding-round-raises-over-60m/. 
  28. ↑ Muhn (@julieschicktanz), Julie (2025-04-28). "Thunes Raises $150 Million for US Expansion" (in en-US). https://finovate.com/thunes-raises-150-million-for-us-expansion/. 
  29. ↑ "Thunes raises $150 million in Series D" (in en). 2025-04-28. https://www.finextra.com/newsarticle/45886/thunes-raises-150-million-in-series-d. 
  30. ↑ Burgos, Jonathan. "GGV Capital’s Jenny Lee Rises As One Of The World’s Best Venture Capital Investors" (in en). Forbes. https://www.forbes.com/sites/jonathanburgos/2022/09/08/ggv-capitals-jenny-lee-rises-as-one-of-the-worlds-best-venture-capital-investors/. 
  31. ↑ Times, The Fintech (2025-10-04). "Thunes Enables Banks to Access its Network Via Existing Swift Connectivity" (in en-GB). https://thefintechtimes.com/thunes-enables-banks-to-access-its-network-via-existing-swift-connectivity/. 
  32. ↑ "Thunes White Paper: Achieving Seamless Payment Integration" (in en). https://thepaypers.com/fintech/expert-views/thunes-white-paper-review-achieving-seamless-cross-border-payments-integration. 
  33. ↑ "Thunes and Circle to Launch Stablecoin-powered Liquidity Management Solution". 2024-10-29. https://www.fintechfutures.com/press-releases/thunes-and-circle-to-launch-stablecoin-powered-liquidity-management-solution. 
  34. ↑ "Mastercard and Thunes Bring Stablecoin Payouts to the Mainstream". 2025-11-13. https://www.mastercard.com/news/ap/en/newsroom/press-releases/en/2025/mastercard-and-thunes-bring-stablecoin-payouts-to-the-mainstream/. 
  35. ↑ Russell, Jon (2019-05-06). "Thunes raises $10M to make financial services more accessible in emerging markets" (in en-US). https://techcrunch.com/2019/05/05/thunes-raises-10m/. 
  36. ↑ PYMNTS (2024-03-21). "Thunes and Visa Expand Digital Wallet Partnership to Asia and Africa" (in en-US). https://www.pymnts.com/digital-payments/2024/thunes-and-visa-expand-digital-wallet-partnership-to-asia-and-africa/. 
  37. ↑ Times, The Fintech (2025-01-16). "PayPal's Hyperwallet Joins Thunes Global Network, Enabling Customers to Send Money to Asia Pacific" (in en-GB). https://thefintechtimes.com/paypals-hyperwallet-joins-thunes-global-network-enabling-customers-to-send-money-to-asia-pacific/. 
  38. ↑ sshah (2025-10-29). "Thunes and Ecobank Group to power Africa's instant payments for the next billion users." (in en). https://african.business//2025/10/african-banker/thunes-and-ecobank-group-to-power-africas-instant-payments-for-the-next-billion-users. 



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