Thunes
Singapore-based financial technology company
From Wikipedia, the free encyclopedia
Thunes is a Singapore-based financial technology company that provides cross-border payment infrastructure for financial institutions, businesses, and payment providers.[1] Its network enables transactions to digital wallets, bank accounts, stablecoin wallets and cash outlets.[2][3][4] Thunes is also collaborating with Circle to enable cross-border settlements using the stablecoin USDC.[5][6] Thunes is regulated as a ''Major Payment Institution'' by the Monetary Authority of Singapore.[7]
| Company type | Private |
|---|---|
| Industry | Financial technology |
| Predecessor | TransferTo |
| Founded | 2016 |
| Headquarters | Singapore |
Number of locations | Atlanta, Barcelona, Beijing, Dubai, Hong Kong, Johannesburg, London, Manila, Nairobi, Paris, Riyadh, San Francisco, Singapore, Shanghai |
Area served | Worldwide |
| Products | Cross-border payments, financial infrastructure |
| Website | thunes.com |
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]