Thunes, a Singapore-based startup developing a cross-border payments network to make financial services more accessible in emerging markets, announced today it has raised a $60 million Series B. The round was led by Africa-focused firm Helios Investment Partners, with participation from Checkout.com, and returning investors GGV Capital and Future Shape. Thunes launched in 2019 when financial tech company TransferTo split into two companies: Thunes for business-to-business solutions, and DT One, which focuses on consumer services like mobile top-ups and data bundles. Thunes develops APIs and other technology for financial companies, including banks, digital wallet providers, and money transfer services, that helps them reach customers in emerging economies, who often don’t have access to traditional bank accounts.
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