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May 19, 2021

Thunes rakes in $60m in growth round led by Insight Partners

By Johney Amala

Singapore-based fintech Thunes has secured $60m in Series B growth round led by venture capital firm Insight Partners, with participation from existing shareholders.

The capital influx comes as the firm, which connects payment players in over 100 countries, looks to expand its network and grow its team.

It follows the firm’s $60m Series B funding in last September led by Helios Investment Partners and takes its total funding to $130m in less than two years.

Thunes CEO Peter De Caluwe said the new capital will help the company speed up investment in its operations, product, and technology.

As part of the financing round, Insight Partners will offer financial and operational resources required for Thunes to accelerate its growth.

Insight Partners managing director Deven Parekh said: “Since leading the Series A funding round in 2019, we have witnessed incredible growth from Thunes and have seen Peter’s ability to attract management talent from around the world to join Thunes in fulfilling its mission and vision.

“We are excited about the impact they have made in addressing the many challenges in the cross-border payments ecosystem and look forward to our continued partnership as Thunes scales to greater heights.”

Financial Technology Partners (FT Partners), an investment bank focused exclusively on fintech, served Thunes as the financial advisor in the latest round.

The firm regional offices in London, Shanghai, New York, Dubai, and Nairobi and is regulated by the Monetary Authority of Singapore and the Financial Conduct Authority in the UK.

Last December, UK-based payments firm Paydek forged an alliance with Thunes to offer more payment options to its customers.

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