Thunes, a fintech start-up serving emerging markets, raises $60 million led by Africa-focused Helios Investment Partners

by RJ Shara | Sep 8, 2020 | Fundings and Exit, Startups

Thunes, a Singapore-based start-up establishing a cross-border payments network to make financial services more accessible in emerging markets, revealed today it has raised a $60 million Series B. The round was led by Africa-focused company Helios Investment Partners, with involvement from Checkout.com, and returning investors GGV Capital and Future Forming. Thunes launched in 2019 when […] Thunes establishes APIs and other technology for monetary companies, including banks, digital wallet companies, and money transfer services, that assists them reach clients in emerging economies, who frequently don’t have access to conventional bank accounts. Chief executive officer Peter De Caluwe told TechCrunch that Thunes looked for active investors who could help it work with banks and regulators in new markets, and help them connect with prospective customers. De Caluwe said Thunes divides its markets’ needs into four classifications. Thunes’ market chance is huge: based on information from a tactical workshop it conducted with monetary research study company EY, about $45 trillion circulations in between the countries Thunes runs in. Thunes separates by focusing practically exclusively on emerging markets, where the barriers to entry are high….