Thunes scores $60m in Series B after 100% YoY growth

Singapore-based Thunes, a B2B payments company, has bagged $60m in its Series B after a 100% growth rate over the past year.

The round was led by private equity and venture capital firm Insight Partners. As part of the deal, Insight will supply Thunes with financial and operational resources to promote its rapid and sustained growth.

Thunes has established a cross-border payments network, which boasts real-time transactions.

The platform connects payment players in over 100 countries. Its network includes Grab, PauPal, M-Pesa, Commercial Bank of Dubai, Western Union, Remitly and more.

Insight Partners managing director Deven Parekh said, “Taking an innovative approach to solving the problems of an extremely fragmented and complex global payments ecosystem, Thunes has created a unique platform that provides accessible, fast, and reliable payment solutions. We see the company as poised for massive growth as it expands its infrastructure. We are looking forward to helping them scale up.”

Helios Investment Partners led Thunes’ Series B round, which closed on $60m in 2020. The FinTech has raised a total of $120m in the past six months.

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