Thunes, a Singapore-based global cross-border payments network for emerging economies, closed a $10m Series A financing.
The round was led by GGV Capital.
The company intends to use the funds to further enrich the service offering and platform and accelerate growth across Africa, Asia, and Latin America.
The team will also open up new, dedicated offices in San Francisco, USA, Dubai, UAE, and Paris, France to enable closer interaction with the growing customer and partner base.
Led by CEO Steve Vickers, Thunes offers four key payment solutions:
– P2P remittance processing,
– corporate mass payouts,
– B2B payments, and
– digital payment services.
The company aims to make financial services global and accessible to everyone, including the 1.7 billion adults in emerging markets that are excluded from the global economy because they lack access to any financial services. Its global network interconnects financial institutions and digital financial service providers, enabling the movement of funds to and from emerging economies in a fast and secure way.
Today, Thunes has an active global network that reaches over 80 countries with more than 9,000 interconnected payout partners.