Payments company Thunes announced today it has raised US$150 million in its Series D funding round, the largest in the company’s history.
The round was led by private equity firms Apis Partners and Vitruvian Partners.
Thunes reported the funding was secured quickly despite challenging capital market conditions and represents a significant valuation increase over its previous round.
The company, which states it is currently profitable and maintaining growth, intends to use the new capital to fund expansion in the United States.
This follows its recent acquisition of licenses across 50 U.S. states, pending regulatory approval.
Funds will also be directed towards strengthening Thunes’ existing global network, which facilitates payments across more than 130 countries and 80 currencies through more than 550 direct integrations.
Thunes also reiterated its focus on expanding access to cross-border payments in emerging markets, with the goal of reaching the next billion end users.
“Our performance, marked by a revenue run-rate of US$150 million and positive EBITDA, demonstrates our ability to balance rapid expansion with financial prudence, even in a tumultuous market.
This new capital enables us to extend our Direct Global Network, including in the United States, drive technological innovation, from artificial intelligence to digital asset ecosystem interoperability, and deliver superior value to the members of our proprietary network.”
said Floris de Kort, CEO of Thunes.
Featured image credit: Edited from Freepik
