Singapore’s Thunes raised $150 M Series D funding from Apis Partners, Vitruvian Partners

The $150 million Series D funding round for Thunes, a payment company based in Singapore, was successfully raised by international private equity firms Apis Partners and Vitruvian Partners.

Subject to regulatory approval, the company said in a statement on Monday that it intends to use this capital to accelerate its growth in the US, which is bolstered by the recent acquisition of licenses in all 50 US states.

With 130+ countries, 80+ currencies, and 550+ direct integrations, Thunes’ Direct Global Network will be further strengthened with these funds, allowing for real-time payments across intricate and foreign markets.

Thunes stated that it is in a strong position to continue gaining market share as cross-border payments surge towards a $150 trillion opportunity.

According to Thunes, it continues to make a variety of payment systems, including digital, traditional, and emerging currencies, interoperable through state-of-the-art technology, industry-leading compliance standards, and a flawless customer experience.

The company wants to be the go-to option for quick, safe, and affordable cross-border payments, linking billions of wallets and thousands of partners globally, with the goal of integrating the “next billion end users” in emerging markets.

“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 $150 million and positive earnings before interest, taxes, depreciation and amortization (EBITDA), demonstrates our ability to balance rapid expansion with financial prudence, even in a tumultuous market,” said Floris de Kort, Chief Executive Officer of Thunes.

“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,

“In a challenging funding environment, our progress and resilience set a new industry standard,” he added.

The statement claims that Thunes’ series D fundraising highlights both its operational excellence and financial strength.

According to the statement, the business is now prepared to reshape the norms for international cross-border payments, creating fresh avenues for development and creativity in the quickly changing fintech sector.

“Thunes has revolutionized 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,” said Matteo Stefanel, Managing Partner & Co-Founder at Apis Partners.