US payments platform Tilia LLC acquired by cross-border payments company Thunes
In an effort to strengthen its position in the rapidly growing online gaming market and expand its presence in the US, Thunes, a cross-border payments company based in Singapore, announced that it has finalized an agreement to purchase Tilia LLC, an all-in-one gaming payments platform based in the United States.
In a statement, Thunes said that Tilia provides payment solutions (acceptance and pay-outs) for virtual worlds, in-app purchases, online games, and creator economies. Tilia is licensed in 48 US states and territories.
Following the transaction’s completion, which is contingent upon regulatory approvals, merchants throughout the United States, including those who are currently using Tilia, will have access to Thunes’ unique global network, which enables real-time payment acceptance and settlement through four billion bank accounts, three billion digital wallets, and 550 alternative payment methods (APMs).
Customers of Thunes will be able to receive acceptance for Visa, MasterCard, American Express, JCB, and UnionPay, according to Thunes, thanks to Tilia’s technology.
A five-year exclusive partnership between Thunes and Linden Research, Inc. (Linden Lab), the current majority owner of Tilia, was agreed upon as part of the transaction. Following closing, Thunes will use its global network to process payments and pay outs to Linden Lab, enabling gamers to send and receive money in real-time, more transparently, and more affordably.
“The acquisition of Tilia demonstrates our ambition in the United States,” said Floris de Kort, Chief Executive Officer of Thunes.
“This investment will enable us to leverage Tilia’s capabilities to provide merchants with direct money movement solutions in and out of the United States,
“Furthermore, Tilia’s deep expertise in online gaming, virtual worlds and token-based payments will greatly accelerate our growth into that fast-growing, exciting industry,” he added.
According to Linden Lab CEO Brad Oberwager, Thunes is a remarkable business that directly connects almost every market and payment option in the world.
“The combination of Tilia and Thunes will give Linden Lab’s customers more payment choices, and the ability to receive pay-outs in real time, anywhere, into the wallet or bank account of their choice,
“It will be business as usual for our people and our customers as we bring Tilia and Thunes together,” he added.
Following the acquisition closing and subject to regulatory approval, Tilia will continue to operate out of San Francisco under the new name Thunes.
With over 550 payment methods, including 129 mobile wallets like PayPal, M Pesa, and Orange Money, gig economy behemoths like Uber and Deliveroo, and super-apps like Grab and WeChat, Thunes currently enables payments in 84 currencies across 133 countries.
The company is based in Singapore and has offices there as well as in Beijing, Nairobi, Riyadh, Dubai, San Francisco, Sao Paulo, London, Paris, Barcelona, and Manila, among other places.
