Thunes
| Company type | Private |
|---|---|
| Industry | Financial technology |
| Predecessor | TransferTo |
| Founded | 2016 |
| Headquarters | Singapore |
Number of locations | Atlanta, Barcelona, Beijing, Dubai, Hong Kong, Johannesburg, London, Manila, Nairobi, Paris, Riyadh, San Francisco, Singapore, Shanghai |
Area served | Worldwide |
| Products | Cross-border payments, financial infrastructure |
| Website | thunes.com |
Thunes is a Singapore-based financial technology company that provides cross-border payment infrastructure for financial institutions, businesses, and payment providers. Its network enables transactions to digital wallets, bank accounts, stablecoin wallets and cash outlets.[1][2][3] Thunes is also collaborating with Circle to enable cross-border settlements using the stablecoin USDC.[4][5] Thunes is regulated as a ''Major Payment Institution'' by the Monetary Authority of Singapore.
History
Thunes originated from TransferTo, a Singapore-based mobile payments company founded in 2005.[6] In 2016, TransferTo was reorganized into two separate businesses: DT One, which continued to handle mobile top-ups and rewards, and Thunes, which focused on cross-border payments.[7]
Later, Thunes expanded its payment network to support international transfers between banks, mobile wallets, and payment providers. In 2020, the company secured Series B funding led by Helios Investment Partners, with participation from Checkout.com and GGV Capital.[8]
In 2021, Thunes acquired Limonetik, a Paris-based online payment platform. In April 2022, Thunes acquired a majority stake in the Singapore-based regtech startup Tookitaki, expanding its compliance and anti-money-laundering capabilities.[9] The company has since secured additional funding, including a Series C in 2023 led by Marshall Wace and a Series D in 2024 led by Apis Partners and Vitruvian Partners to support its expansion in the United States and other markets.[10][11][12][13]
In June 2025, the company announced the acquisition of Tilia, strengthening its global payments infrastructure and services.[14]
Peter De Caluwe, one of the company's co-founders, serves as chief executive officer.[15]
Operations and regulation
Thunes operates a global network that connects banks, payment service providers, merchants and mobile wallet operators to enable cross-border payments.[16] Its platform supports various payout and collection methods and is used for remittances, e-commerce payments, and other financial transfers. The company enables interoperability between different payment systems, allowing them to exchange and process transactions.[17]
The company's platform supports multiple payout and collection methods, and is used for remittances, e-commerce payments, and other financial transfers. Thunes is regulated as a ''Major Payment Institution'' by the Monetary Authority of Singapore and an Authorised Payment Institution by the UK's Financial Conduct Authority. It also holds a Payment institution License issued by Autorité de Contrôle Prudentiel et de Rèsolution (ACPR) in France and a ''Money Service Operator'' license in Hong Kong.[18]
In the United States, Thunes obtained money transmitter licenses in 50 states.[19] The company maintains offices in locations including London, Paris, Nairobi, and Dubai, in addition to its Singapore headquarters.[20]
Investors and partnerships
Thunes has received investment from several global firms, including Apis Partners, Vitruvian Partners, Marshall Wace, Bessemer Venture Partners, Helios Investment Partners,[21] Checkout.com, and GGV Capital.[22][23][24]
Some of these investors have also collaborated with Thunes to support the expansion of its payment network in emerging markets.[25][26]
Thunes has also announced partnerships with Mastercard,[27] Circle,[28] Visa[29] and PayPal.[30]
References
- ^ Lunden, Ingrid (2023-07-17). "Thunes pockets $72M at a $900M+ valuation to expand its cross-border, B2B payment platform". TechCrunch. Retrieved 2025-11-28.
- ^ "Thunes and Swift power banks to facilitate mobile wallet payments". IBS Intelligence. Retrieved 2025-11-28.
- ^ "Thunes initiates global instant payouts in stablecoins - Asset Servicing Times". www.assetservicingtimes.com. Retrieved 2025-11-28.
- ^ Dharma, RanjithKumar (2024-10-30). "Thunes and Circle partner to ease cross-border payments with stablecoin". Electronic Payments International. Retrieved 2025-11-28.
- ^ "Thunes partners with Circle to support stablecoin transactions". thepaypers.com. Retrieved 2025-11-28.
- ^ Penn, David (2019-02-20). "TransferTo Rebrands as DT One and Thunes". Finovate. Retrieved 2025-11-28.
- ^ "TransferTo announces rebrand with the creation of two market defining companies: DT One and Thunes | DT One". www.dtone.com. Retrieved 2025-11-28.
- ^ jhaxell (2021-05-21). "Thunes scores $60m in Series B after 100% YoY growth". FinTech Global. Retrieved 2025-11-28.
- ^ "Tech in Asia - Connecting Asia's startup ecosystem". www.techinasia.com. Retrieved 2025-11-28.
- ^ Kelly, Tom (2025-04-28). "Thunes Raises USD 150 Million in Series D Funding Round". www.thunes.com. Retrieved 2025-11-28.
- ^ PYMNTS (2025-04-28). "Thunes Raises $150 Million to Expand Cross-Border Payments Platform". PYMNTS.com. Retrieved 2025-11-28.
- ^ "Thunes raises $150 million in Series D". Finextra Research. 2025-04-28. Retrieved 2025-11-28.
- ^ "Fintechs Thunes And GCash Introduce Cross-Border Digital Wallet Top-Up Solution | Crowdfund Insider". 2024-11-06. Retrieved 2025-11-28.
- ^ "Thunes to purchase Tilia". thepaypers.com. Retrieved 2025-11-28.
- ^ Thunes (2024-01-09). "Thunes expands its leadership to accelerate growth - Thunes". www.thunes.com. Retrieved 2025-11-28.
- ^ PYMNTS (2025-04-28). "Thunes Raises $150 Million to Expand Cross-Border Payments Platform". PYMNTS.com. Retrieved 2025-11-28.
- ^ "Thunes White Paper: Achieving Seamless Payment Integration". thepaypers.com. Retrieved 2025-11-28.
- ^ Blakey, Douglas (2023-06-06). "Thunes completes Series C funding, raises $60m to accelerate growth". Electronic Payments International. Retrieved 2025-11-28.
- ^ "Thunes obtains money transmission licences in US". Yahoo Finance. Archived from the original on 2025-06-07. Retrieved 2025-11-28.
- ^ Yang, Yara (2025-04-29). "Thunes raises $150M to expand global payments network". Blue Tech Wave Media. Retrieved 2025-11-28.
- ^ Shu, Catherine (2020-09-08). "Thunes raises $60 million for cross-border payments in emerging markets". TechCrunch. Retrieved 2025-11-28.
- ^ Blakey, Douglas (2023-06-06). "Thunes completes Series C funding, raises $60m to accelerate growth". Electronic Payments International. Retrieved 2025-11-28.
- ^ Muhn (@julieschicktanz), Julie (2025-04-28). "Thunes Raises $150 Million for US Expansion". Finovate. Retrieved 2025-11-28.
- ^ "Thunes raises $150 million in Series D". Finextra Research. 2025-04-28. Retrieved 2025-11-28.
- ^ Times, The Fintech (2025-10-04). "Thunes Enables Banks to Access its Network Via Existing Swift Connectivity". The Fintech Times. Retrieved 2025-11-28.
- ^ "Thunes White Paper: Achieving Seamless Payment Integration". thepaypers.com. Retrieved 2025-11-28.
- ^ "Thunes and Circle to Launch Stablecoin-powered Liquidity Management Solution". FinTech Futures. 2024-10-29. Retrieved 2025-11-28.
- ^ "Mastercard and Thunes Bring Stablecoin Payouts to the Mainstream". Mastercard Newsroom. 2025-11-13. Retrieved 2025-11-28.
- ^ PYMNTS (2024-03-21). "Thunes and Visa Expand Digital Wallet Partnership to Asia and Africa". PYMNTS.com. Retrieved 2025-11-28.
- ^ Times, The Fintech (2025-01-16). "PayPal's Hyperwallet Joins Thunes Global Network, Enabling Customers to Send Money to Asia Pacific". The Fintech Times. Retrieved 2025-11-28.