Cross-border payments company Thunes has raised $150 million in Series D funding, with investments led by Apis Partners and Vitruvian Partners.
The company plans to use the new capital to accelerate its expansion in the United States, bolstered by the recent acquisition of licenses across 50 US states, pending regulatory approval.
CEO Floris de Kort remarked, “Thunes’ latest funding round is a clear validation of our strategy and commitment to sustainable growth. With a revenue run-rate of $150 million and positive EBITDA, we demonstrate our ability to balance rapid expansion with financial prudence, even in a challenging market.”
Thunes’ Direct Global Network encompasses 130 countries and over 80 currencies, connecting directly to more than seven billion mobile wallets and bank accounts globally, as well as 15 billion cards in support of over 320 different payment methods.
De Kort added, “This new capital allows us to extend our Direct Global Network, especially in the US, drive technological innovation—from artificial intelligence to digital asset ecosystem interoperability—and deliver superior value to our network members. In a tough funding environment, our progress and resilience set a new industry standard.”
Previously, Thunes raised $72 million in 2023, with support from Visa, EDBI, and Endeavour Catalyst. While de Kort did not disclose specific figures, he indicated that this funding round signifies a “substantial valuation increase.”