Sign up for The Paypers newsletter Follow The Paypers on LinkedIn Follow The Paypers on Twitter Follow The Paypers on Facebook
The Paypers, paypers, Insight in payments, News, Reports, Events
 advertisement
Payments General

Thunes raises USD 10 mln to offer financing in emerging markets

Monday 6 May 2019 | 01:53 PM CET

US-China-based company GGV Capital has announced leading a USD 10 million investment in Singapore-based cross-border fintech startup Thunes.

Thunes provides payment solutions for companies and services that deal with consumers and need new features, increased interoperability and flexibility for users. It makes money on a fee basis per transaction and, in the case of cross border, a small markup on exchange rates using mid-market rates for reference.

The company was founded in February of this year when TransferTo, a company that provided services like mobile top-up cross-border split itself in two. Thunes is the B2B play that uses TransferTo’s underlying technology, while DT One was spun out to cover the consumer business of top-up and mobile rewards. It is not a consumer-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.

More: Link
 advertisement
 advertisement
 advertisement
 advertisement