History
Thunes originated from TransferTo [8] , a Singapore-based mobile payments company founded in 2005. [9] 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. [10]
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. [11]
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. [12] 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. [13] [14] [15] [16]
In June 2025, the company announced the acquisition of Tilia, strengthening its global payments infrastructure and services. [17]
Peter De Caluwe, one of the company's co-founders, serves as chief executive officer. [18] [19]
Operations and regulation
Thunes operates a global network that connects banks, payment service providers, merchants and mobile wallet operators to enable cross-border payments. [20] 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. [21]
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. [22]
In the United States, Thunes obtained money transmitter licenses in 50 states. [23]
In September 2025, it launched in Morocco [24] and started cooperation with Ripple. [25]
Investors and partnerships
Thunes has received investment from several global firms, including Apis Partners, Vitruvian Partners, Marshall Wace, Bessemer Venture Partners, Helios Investment Partners, [26] Checkout.com, and GGV Capital. [27] [28] [29] [30]
Some of these investors have also collaborated with Thunes to support the expansion of its payment network in emerging markets. [31] [32]
Thunes has also announced partnerships with Mastercard, [33] Circle, [34] Visa [35] [36] and PayPal. [37] In October 2025, it partnered with Ecobank, pan-African banking conglomerate. [38]
This page is based on this
Wikipedia article Text is available under the
CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.
