Xavier Kong · · 1 min readThunes enters Saudi Arabia, appoints new country head
Thunes, a cross-border payments firm headquartered in Singapore, has expanded to Saudi Arabia and appointed Ahmad Yaacoub as its country head for the market.
Thunes head of Saudi Arabia Ahmad Yaacoub / Photo credit: Thunes
The firm said it is in advanced talks to sign partnerships with local money transfer operators, e-wallet service providers, and banks. A new office will also be set up in Saudi Arabia.
Ahmad brings with him over 10 years of business development experience in ecommerce and mobile payments, having headed the business development departments of mobile payment service provider Tiqmo and on-demand services platform Soror.
Earlier this year, Thunes announced plans to “significantly accelerate” its expansion in China, Hong Kong, Taiwan, and Macau, which included tripling its team in China.
This was followed by the firm acquiring a majority stake in Singapore-based regtech startup Tookitaki for over US$20 million. This enabled Thunes to offer anti-money laundering software to its users.
Editing by Miguel Cordon and Lorenzo Kyle Subido
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