International payments platfotm Thunes has highlighted an expansion in the US after raising $150m in its latest Series D funding round.
Private equity firms Apis Partners and Vitruvian Partners led the funding round, which marks the largest in Thunes’ history. Floris de Kort, CEO of Thunes, stated the round is a “clear validation of our strategy and our commitment to sustainable growth”.
He highlighted the company’s performance, pointing to a revenue run-rate of $150m and positive EBITDA. He said that these figures demonstrate Thunes’ ability to balance expansion with financial prudence, especially given how volatile the markets have been recently.
Matteo Stefanel, Managing Partner and Co-Founder at Apis Partners, also noted the company’s growth record and positive EBITDA performance.
He said: “Even in these unprecedented times, clearly underpin the trust of its Members and their ability to scale effectively. We have been closely monitoring Thunes’ remarkable journey and are consistently impressed by the team’s innovative approach, operational rigour, and strategic foresight.”
Fueling expansion
When it comes to using the $150m raised, Thunes has shared that it will focus on expanding in the US, aided by the recent acquisition of licences across 50 US states, subject to regulatory approval.
De Kort added: “This new capital enables us to extend our Direct Global Network, including in the US, drive technological innovation, from AI to digital asset ecosystem interoperability, and deliver superior value to the Members of our proprietary Network.”
As Thunes’ CEO alluded to, these funds will also help strengthen its Direct Global Network, which spans over 130 countries, more than 80 currencies, and 550+ direct integrations, which is constantly expanding, with Taiwan being added in February.
These expansion and enhancement efforts will all work towards grabbing a slice of the cross-border payments market, which is expected to grow to a $150 trillion market opportunity.
Tassilo Arnhold, Partner at Vitruvian Partners, concluded: “At Vitruvian Partners, we value strategic vision, resilience, and commitment to innovation, all of which Thunes exemplifies in every aspect of its operations. They consistently demonstrate the ability to navigate complex market conditions while setting new standards for efficiency and transparency.
“We are delighted to support Thunes in their mission to continuously set and exceed industry benchmarks, thereby redefining the future of global cross-border payments.”
