Thunes hits major growth milestones as network expansion accelerates

SINGAPORE and LONDON, Aug. 12, 2024 /PRNewswire/ — Thunes, the Smart Superhighway for money movement around the world, today announces it has hit major growth milestones, exceeding $100m run-rate Revenue whilst remaining firmly on course to reach EBITDA break-even by year-end.

Thunes’ phenomenal growth journey is fuelled by accelerating demand for its proprietary Direct Global Network for money movement, which allows Members to make payments in real-time in over 130 countries and more than 80 currencies. Thunes’ Network connects directly to over 7 billion mobile wallets and bank accounts worldwide, via more than 350 different payment methods.

Thunes’ Direct Global Network differentiates itself through its worldwide reach, in-house Smart Treasury Management Platform (powered by AI) and Superior Compliance Infrastructure, ensuring Members of the Network receive unrivalled speed, control, visibility, protection and cost efficiencies when making real-time payments globally. Most recently, Thunes welcomed Sephora, Adidas, Alipay+, LianLian Global, Pomelo, Orange, Meta, Hyperwallet by PayPal, Virgin Beyond, barq, D360 and inDrive to its Network.

Thunes is continuously investing in the global reach and inter-connectivity of its Network:

In China, Thunes recently announced its participation in the eCNY project, in partnership with the Digital Currency Institute of the People’s Bank of China. Soon, foreigners visiting China will be able to pay like locals, using their home (neo)bank app, powered by Thunes’ Direct Global Network for money movement.

In the United States, Thunes announced the acquisition of Tilia. Upon closing of the transaction, which is subject to regulatory approvals, Thunes’ Direct Global Network will become available to businesses in the United States, including current Tilia customers. Furthermore, using Tilia’s technology, Thunes will be able to offer Visa, MasterCard, American Express, JCB and UnionPay acceptance to Thunes’ customers.

Maintaining its strong focus on emerging, high-growth markets in Africa, the Middle East and Southeast Asia, Thunes recently announced the opening of its 14th office, in Riyadh in the Kingdom of Saudia Arabia.

Floris de Kort, CEO at Thunes said: “Hitting these growth milestones is the result of the passion, dedication and hard work of 400 Thunesters from 60 different nationalities across 14 offices globally. Our team is fully committed to delivering the very best service to all Members of our Direct Global Network and will always go the extra mile to achieve this. I very much look forward to seeing Thunes go from strength to strength during the years ahead.”

About Thunes

Thunes is the Smart Superhighway for money movement around the world. Thunes’ proprietary Direct Global Network allows Members to make payments in real-time in over 130 countries and more than 80 currencies. Thunes’ Network connects directly to over 7 billion mobile wallets and bank accounts worldwide, via more than 350 different payment methods, such as GCash, M-Pesa, Airtel, MTN, Orange, JazzCash, Easypaisa, AliPay, WeChat Pay and many more. Members of Thunes’ Direct Global Network include gig economy giants like Uber and Deliveroo, super-apps like Grab and WeChat, MTOs, fintechs, PSPs and banks. Thunes’ Direct Global Network differentiates itself through its worldwide reach, in-house Smart Treasury Management Platform (powered by AI) and Superior Compliance Infrastructure, ensuring Members of the Network receive unrivalled speed, control, visibility, protection and cost efficiencies when making real-time payments globally. Headquartered in Singapore, Thunes has offices in 14 locations, including Barcelona, Beijing, Dubai, London, Manila, Nairobi, Paris, San Francisco and Sao Paulo.

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SOURCE Thunes