July 17, 2023, SINGAPORE and LONDON — Thunes, a global B2B payment infrastructure platform, announced the addition of three illustrious investors to its Series C funding round: Endeavour Catalyst, a San Francisco-based co-investment fund of Endeavour, and Visa, a leader in digital payments. These investors support Thunes’ mission to address the inefficiencies of sending money abroad and develop a next-generation payment system that is safe, quick, and transparent.
Shortly after Thunes announced an investment of $60 million spearheaded by London-based hedge fund Marshall Wace with assistance from Bessemer Venture Partners and Southeast Asian private equity firm 01Fintech, this investment increased the total Series C fundraising to USD USD 72 million.
Thunes and Visa already collaborate on a global scale. Visa and Thunes established a strategic partnership in October 2022 to increase Visa Direct’s accessibility to 1.5 billion digital wallets. Through this collaboration, 78 digital wallet providers worldwide can access Thunes B2B payments platform’s send-to-wallet functionality. Customers of Visa, including financial institutions, governments, neobanks, and money transfer companies, can use an API interface with Visa Direct to enable individuals and small businesses to send money to compatible digital wallets in Latin America, Africa, and Asia using the Thunes global network.
Thunes and Visa already collaborate on a global scale. Visa and Thunes established a strategic partnership in October 2022 to increase Visa Direct’s accessibility to 1.5 billion digital wallets. Through this collaboration, 78 digital wallet providers worldwide can access Thunes B2B payments platform’s send-to-wallet functionality. Customers of Visa, including financial institutions, governments, neobanks, and money transfer companies, can use an API interface with Visa Direct to enable individuals and small businesses to send money to compatible digital wallets in Latin America, Africa, and Asia using the Thunes global network.
“We are proud to close Series C with such a strong roster of influential investors,” says Peter De Caluwe, CEO of Thunes. Support from Visa, EDBI, and Endeavour strongly affirms our approach and capacity, giving us more resources to create creative responses to market difficulties. We will grow our network and provide businesses and consumers with an unrivalled cross-border payments experience by utilizing the knowledge and assistance of our investors. I’m happy to see an even closer partnership with Visa. Together, we will create an open, effective, and pervasive global payment environment.
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