Thunes teams up with UK fintech firm for new payment methods

Thunes, a cross-border payments firm based in Singapore, has entered into a partnership with UK fintech startup Finastra. The new deal involves integrating Thunes’s services into Fusion Total Messaging, Finastra’s software-as-a-service payments platform.

Photo credit: Thunes

The partnership will allow Finastra’s roughly 8,600 existing customers to access new payment rails across more than 115 markets. In turn, this will eanble them to instantly send money to countries or use new payment methods, according to a statement.

Thunes is a business-to-business company that’s used by organizations such as banks, money transfer operators,  and platforms to make payments to bank accounts, mobile wallets, and cash pickup providers globally. Apart from Singapore, it has regional offices in London, France, Shanghai, New York, Dubai, and Nairobi.

“In a bid to deliver a better global payments experience for everyone, we are delighted to partner with Finastra to deepen connectivity to existing and new financial institutions on the Finastra platform,” said Dawei Wang, head of strategic partnerships at Thunes.

The development comes after Thunes secured US$60 million in a round led by Insight Partners in May. The raise pushed the startup’s valuation to around US$518 million. Thunes also recently acquired Limonetik, a European payments platform, paving the way for its integrated solution for businesses called Thunes Collections.