Payments network Thunes raises US$150 million in Series D funding

[SINGAPORE] Payments network Thunes has raised US$150 million in Series D funding, with private equity firms Apis Partners and Vitruvian Partners participating.

The new investors join EDBI – the investment arm of the Singapore Economic Development Board – Granite Asia and Visa as part of Thunes’ cap table. The company currently has a revenue run-rate of US$150 million.

The funds will be used to strengthen Thune’s network across more than 130 countries and 80 currencies. The payment network is building on its vision for the “next billion end users” in emerging markets in making payment services interoperable.

Floris de Kort, CEO of Thunes, said: “This new capital enables us to extend our Direct Global Network, including in the US, drive technological innovation, from artificial intelligence to digital asset ecosystem interoperability, and deliver superior value to the members of our proprietary network.”