Thunes extends its Series C to $72m with Visa backing

Cross-border payments infrastructure platform Thunes has extended its Series C round to $72m with backing from Visa.

The Singapore and London-based fintech powers payments for a range of businesses, from the likes of Uber and Deliveroo to global fintechs like PayPal and Revolut.

Making use of the extensive network of mobile wallets, Thunes enables businesses and their customers to make and receive payments globally, supporting 80 currencies in 132 counties with 300 payment methods.

The three additional investors in the extended Series C — Visa, Singapore-based global investor EDBI and San Francisco co-investment fund Endeavor Catalyst — build on a $60m round led by London-based hedge fund Marshall Wace.

“By leveraging the insights and support of our investors, we will expand our network and offer businesses and consumers an unparalleled cross-border payments experience,” Thunes CEO Peter De Caluwe said. 

“I’m delighted to see an even deeper collaboration with Visa. Together, we will pave the way towards a global payment ecosystem that is inclusive, efficient and ubiquitous.”

The investment from Visa builds on an existing global partnership between the two companies, established last October, offering a “send-to-wallet” capability to 78 digital wallet providers globally.

“Digital wallets play a key role in providing underserved communities with greater economic empowerment and financial inclusion by penetrating previously unreached regions,” Visa Direct global head Ruben Salazar Genovez said.