Payments startup Thunes acquires majority stake in tech firm Tookitaki; invests over US$20m

SINGAPORE-BASED global payments startup Thunes has acquired a majority stake in anti-money laundering and compliance technology firm Tookitaki through an investment of over US$20 million.

Both businesses will continue to operate independently, with the deal helping the companies accelerate their global business expansion, the press release on Tuesday (Apr 19) stated. 

With this deal, Tookitaki’s capabilities will be extended to Thunes, helping the startup safeguard its businesses and create more transparency around payment flows for its global customers. 

Established in 2015, Thunes is a B2B company that powers payments for businesses. Customers of Thunes include Grab, Deliveroo and Paypal, and the company tracks over 180 million transactions annually. 

On the back of the alliance, Tookitaki will be able to deepen its presence in core Asia-Pacific markets, the Middle East, Europe and the Americas. 

Founded in November 2014, the company offers a compliance platform as a service to banks and financial institutions around the world. Using big data and machine learning technologies, Tookitaki delivers anti-money laundering and compliance technology solutions to its clients.

“This alliance will give Thunes customers access to next-generation tech compliance systems, reducing the cost of transferring money across borders. At the same time, all Tookitaki's banking and fintech clients will automatically gain access to Thunes' network, unlocking pathways to scale globally,” said Peter De Caluwe, chief executive of Thunes.