Helios leads $60m funding round for cross-border payments company
Singapore-based fintech startup Thunes, which operates a global B2B cross-border payments network, has attracted a $60 million series B funding round led by Africa-focused Helios Investment Partners. Additional investors include Checkout.com as well as existing investors GGV Capital and Future Shape.
“This marks a significant milestone in our next phase of growth as we strive towards helping financial institutions and businesses around the world move money between each other in a faster, more economical and reliable way. Our goal is to make financial services affordable and accessible to everyone,” said Peter De Caluwe, CEO of Thunes.
Launched in 2016, Thunes’ global network connects mobile wallet providers, banks, technology companies and money transfer operators, enabling seamless cross-border payments to and from emerging economies in a fast and secure manner.
The latest round of funding will drive the continued development of Thunes’ global network and accelerate its expansion and growth in Africa, Asia and Latin America. The capital raised will be deployed to expand its team and product offering, including business payments and collections from emerging markets.
Tope Lawani, co-founder and managing partner of Helios Investment Partners commented, “The African fintech space, and payments in particular, remains a key focus area for Helios and we continue to look for opportunities to back high-growth companies building key infrastructure for the financial ecosystem in Africa. Thunes is a great example of a firm leading this. The unique network built by the company enables its partners to process cheaper and faster cross-border payments of all types. We are delighted to be supporting Thunes in their plans to connect multiple payment ecosystems across often challenging markets in Africa and other emerging markets and thus, foster further financial inclusion.”
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