Thunes has raised $30 million in Series C funding for its cross-border payments solutions.
The firm disclosed in a filing with Singapore’s Accounting and Corporate Regulatory Authority that one of the investors with which it engages, Marshall Wace, invested $30 million in the round, Thunes said in an official statement provided to PYMNTS Friday (March 24).
The Singapore-headquartered firm added in the statement that it is unable to comment on any other potential investors and the total size of the investment round.
“Our conversations with global investors are constant and ongoing, and as we continue to engage with them, we see a strong interest in Thunes’ capabilities, as well as a belief that the cross-border payments sector will continue to grow and see strong demand,” the statement said.
This news comes after announcements of partnerships and other developments at Thunes.
In November, the firm teamed up with China’s Tencent Financial Technology to allow members of the Thunes network to send payments to the 1.3 billion users on Tencent’s Weixin service, which is known internationally as WeChat.
“We are excited to bring the ability to connect our global customers with Weixin’s massive consumer base, creating tremendous opportunities for service enhancement and revenue generation for all members in our ecosystem,” Daphne Huang, Thunes senior vice president for the Asia-Pacific (APAC) region, said at the time.
A month earlier, Thunes and Visa partnered to enable individuals and small- to medium-sized businesses (SMBs) using Visa Direct to move money internationally to 78 digital wallet providers encompassing 1.5 billion digital wallets in 44 countries and territories.
“Through the combined power of Visa’s scale and Thunes’ payment infrastructure, this collaboration has the potential to help develop a new global era for inclusive and accessible global payments,” Thunes CEO Peter De Caluwe said at the time.
In April, Thunes announced it was acquiring a $20 million majority stake in the anti-money laundering (AML) and compliance platform Tookitaki to drive international growth for both businesses.
“We’ve already identified multiple ways to grow faster together, increasing the value we provide to our customers,” De Caluwe said at the time.
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