Payments infrastructure provider Thunes has extended its Series C fundraise to include new investors, including Visa, bringing the total funding to $72 million.
Singapore-based investor EDBI and US investment fund Endeavor Catalyst also joined the round.
Thunes said the new investors would support its mission to address the inefficiencies of moving money internationally and help continue to develop a payment system that is secure, instant and transparent.
Thunes already has a pre-existing relationship with Visa, having recently announced a collaboration to extend Visa Direct’s reach to 1.5 billion digital wallets.
Using Thunes’ API integration with Visa Direct, the collaboration enables Visa’s customers, which include financial institutions, governments, consumers and small businesses to send funds to eligible digital wallets in Africa, Asia, and Latin America -- all powered by Thunes’ global network.
“We’re proud to close Series C with such a strong roster of influential investors,” said Thunes chief executive Peter De Caluwe. “Support from Visa, EDBI and Endeavor is a powerful endorsement of our strategy and capabilities, providing us with additional resources to develop innovative solutions to face industry challenges.”
De Caluwe added that Thunes would leverage the insight and support of its investors to expand its our network and offer businesses and consumers an “unparalleled” cross-border payments experience.
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