Thunes raises $10M to make financial services more accessible in emerging markets – TechCrunch
6 May 2019 1:36 AM IST
Cross-border fintech continues to be an area of interest for venture capitalists. The latest deal sees GGV Capital ? the U.S-China firm that?s backed Xiaomi, Airbnb, Square and others ? lead a $10 million investment in Singapore-based startup Thunes. Other investors in the Series A round are not being disclosed at this point. Thunes ? [?]
- Its service is a b2b play that provides payment solutions for companies and services that deal with consumers and need new features, increased interoperability and flexibility for users.
- Thunes works with customers across the world in North America, Central America, Latin America, Africa, Europe and Asia, but it is looking particularly at Southeast Asia and the wider Asia continent for growth with this new capital.
- It is not a consuming facing brand, but its biggest customers include Western Union, PayPal and Mpesa - where it has worked to connect the two payment interfaces in Africa - and India's Paytm and ride-hailing company Grab, which it helps to pay drivers.
- " That's to mean that it enables interoperability between different wallets, banks in different countries and newer payment systems, too.
- De Caluwe said that Thunes will work to add more destinations, support for more countries, more partners and more features.
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