How Thunes Secured US$150m Series D Investment
Thunes, a global cross-border payments network that connects traditional banking systems with digital wallets and emerging payment methods, has raised US$150m in Series D funding.
The investment round, led by financial services specialist Apis Partners and growth equity firm Vitruvian Partners, represents the largest capital raise in the company's history and was completed at a higher valuation than its previous funding round.
The Singapore-based firm, which operates a network that enables real-time money movement across borders, secured the funding despite what industry observers describe as a challenging capital markets environment.
Both lead investors bring expertise in financial services and emerging markets to the partnership.
Floris de Kort, CEO of Thunes, says: “Thunes' latest funding round is a clear validation of our strategy and our commitment to sustainable growth.
“Our performance, marked by a Revenue run-rate of US$150m and positive EBITDA, demonstrates our ability to balance rapid expansion with financial prudence, even in a tumultuous market.
“This new capital enables us to extend our Direct Global Network, including in the United States, drive technological innovation, from Artificial Intelligence to digital asset ecosystem interoperability, and deliver superior value to the Members of our proprietary Network.”
US Expansion and Global Network Growth
Thunes plans to use the new capital to accelerate its expansion in the US, building on its recent acquisition of money transmitter licences across all 50 US states, pending regulatory approval.
This move positions the company to compete in the North American market where cross-border payment volumes continue to grow.
The funding will also support further development of what the company calls its Direct Global Network, which currently connects 130 countries, supports 80 currencies and maintains 550 direct integrations with financial institutions and payment providers.
This infrastructure enables real-time payments across markets with complex regulatory environments and less common currencies.
The global cross-border payments market, which Thunes estimates will reach US$150tn in transaction volume, represents the core opportunity the company is pursuing.
By making diverse payment systems interoperable, Thunes aims to facilitate transactions between traditional banks, digital payment platforms, and emerging currencies including digital assets.
Matteo Stefanel, Managing Partner and Co-Founder at Apis Partners, adds: “Thunes has revolutionised global cross-border payments by seamlessly integrating robust technology with a disciplined financial strategy that inspires confidence.
“The company's impressive growth record and positive EBITDA performance, even in these unprecedented times, clearly underpin the trust of its Members and their ability to scale effectively.”
Technology Investment and Financial Performance
The company reports a current annual revenue run-rate of US$150m and has achieved positive EBITDA (earnings before interest, taxes, depreciation and amortisation), a key metric that indicates operational profitability.
This performance marks a transition from growth-at-all-costs to sustainable financial operations.
Thunes intends to allocate funding towards technological innovation, particularly in artificial intelligence applications and interoperability with digital asset ecosystems.
“We are proud to partner with the visionary team at Thunes as they build a transformative platform that effectively bridges traditional banking, mobile wallets, and digital assets into one unified solution"
These investments aim to improve the efficiency and reach of cross-border payment processing, particularly in emerging markets where traditional banking infrastructure may be limited.
The investment attracted support from firms that specialise in financial technology growth.
Tassilo Arnhold, Partner at Vitruvian Partners, concludes: “We are proud to partner with the visionary team at Thunes as they build a transformative platform that effectively bridges traditional banking, mobile wallets, and digital assets into one unified solution.
“At Vitruvian Partners, we value strategic vision, resilience, and commitment to innovation, all of which Thunes exemplifies in every aspect of its operations.”
Proton Partners served as financial adviser on the transaction.
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