Overall Rank: 60
Category Rank: 27
- Top Fintech Company of 2023
Thunes is a global payment infrastructure company that helps businesses make and accept payments simply, securely, and fast, anywhere in the world. Founded in 2016, Thunes has built a proprietary global network of direct connections to local payment brands, enabling businesses to send and receive payments in 79 currencies to 130+ countries using 300+ payment methods. Thunes’s customers include some of the world’s leading gig economy companies, such as Uber and Deliveroo, as well as financial technology (fintech) leaders like PayPal and Remitly.
The company is headquartered in Singapore and has regional offices in London, Paris, Shanghai, New York, Dubai, and Nairobi. Thunes is committed to building a more inclusive and efficient global payment system that benefits everyone. The company is a founding member of the Better Payments Coalition, an initiative to make cross-border payments faster, cheaper, and more transparent. The company started with a mission to connect every corner of the world and make the global economy accessible to all.
Since 2016, Thunes has been building a global infrastructure that can move money globally for any payment use case. It can process payouts to mobile wallets and accept APMs, offer white-label remittances, business-to-business payments, and mass payouts, all at affordable rates and in real time. The company’s payment platform serves a multitude of customers, including payment service providers, money transfer operators, digital banks, and mobile wallets.
They designed real-time payment processing technology to provide users with an unparalleled level of speed and convenience. This technology allows payments to be processed and settled immediately, without any delays. In contrast to traditional payment processing methods, which can take several days to complete, real-time payment processing can improve cash flow and reduce the risk of fraud.
A proprietary digital treasury engine has also been developed to process transactions instantly, regardless of their size or complexity. This software system is designed to be very fast and efficient, and it can handle transactions of any size or complexity. This can save businesses time and money by eliminating the need to wait for payments to be processed. Real-time reporting makes the payment process transparent for both the business and the customer. This includes instant payment confirmation and enriched transaction information, so the business always knows where the customer’s money is and when it’s arrived. The customer also knows exactly what they’re paying upfront, with rates up to 10 times less than alternatives.
The tools and technology of the company are tried and tested to process a large volume of transactions and optimize the experience for both platform operators and end users. Thunes is building a global payment infrastructure platform that provides a better, more inclusive payment experience. It connects hundreds of payment methods and brands around the world, so businesses and customers can send and accept payments anywhere instantly with only a single connection to Thunes APIs. They offer payment solutions connecting businesses to Mexico, China, Ethiopia, Cameroon, Bangladesh, etc.
Thunes offers white-labeled cross-border payment solutions that help businesses send payments internationally. These solutions are interoperable and transparent, meaning that they can be used with a variety of payment methods and that businesses have full visibility into the payment process. It has a wide range of expertise in cross-border payments and can help businesses with a variety of use cases, from simple money transfers to mass payouts and business payments.
Through a single API integration, businesses can automate and track every payment through Thunes’s secure API. Thunes’s network can be seamlessly integrated with businesses’ systems for real-time and highly visible tracking. Businesses can know where their customer’s money is and when it’s arrived with instant payment confirmation.
Virtual accounts are unique account numbers that are not linked to a physical bank account. This means that businesses can receive payments from customers in different countries without having to open a bank account in each country. Virtual accounts can give businesses more flexibility in how they receive payments from customers and can help businesses streamline their payment processing by eliminating the need to open and maintain bank accounts in multiple countries.
Thunes’ mass payouts solution allows businesses to make timely direct payments to mobile wallets, bank accounts, or cash pick-ups in 126+ countries. Businesses can connect to Thunes’ established network with a single API connection, making it easy to scale their operations and reach new customers.
In the ever-evolving landscape of global payments, Thunes has emerged as a pivotal player, connecting the dots for businesses and financial institutions worldwide. With a growing clientele that includes industry giants like UberEats, PayPal, Remitly, and more, the company has demonstrated its prowess in streamlining cross-border transactions and delivering unparalleled customer testimonials.
One of Thunes’ prominent customers, UberEats, has lauded the company’s contribution to its operations. Jason Thompson, Head of GrabPay, a subsidiary of UberEats, emphasized Thunes’ invaluable role in their success. He remarked that the company’s extensive global payments network has allowed GrabPay to offer faster daily earnings to these invaluable partners. It seamlessly took care of the entire set-up and integration process, allowing GrabPay, in return, to focus on their market strategy and better serve their users. This underscores the vital role the company plays in supporting the growth and efficiency of global giants like UberEats.
Beyond the corporate realm, the company has also found favor with organizations dedicated to making a positive impact globally. The United Nations Federal Credit Union (UNFCU) is a prime example. Bill Thomas, Chief Member Operations Officer at UNFCU, highlighted the organization’s partnership with Thunes as a means to facilitate secure money transfers for their members. He emphasized that UNFCU will continue to work with Thunes to expand the network to more countries worldwide. They want to make it easy and efficient for members to securely transfer money to their loved ones. This way, Thunes can focus on what truly matters: helping make the world a better place. Partnering with Thunes has offered a proven way forward. This endorsement reflects the trust placed in the company to enable philanthropic endeavors by simplifying cross-border financial transactions.
As the firm continues to innovate and expand its network, it is poised to further redefine the way we think about and conduct global payments, making it easier and more efficient for businesses and individuals alike.
- Founded: 2016
- No. of employees: 300+
- Geographic reach: 126+ countries
- Locations: 11 (Headquarters: Singapore)
- Payment Methods supported: 300+
- Number of Mobile Wallet Accounts: 3 billion
- Currencies : 80
Rating and Commentary
Thunes has become a major player in the fintech industry. By focusing on developing innovative technologies, the company has shown outstanding performance and made significant contributions to the competitive finance and technology sectors. Under the leadership of Peter De Caluwe, the company has demonstrated a strong commitment to innovation and customer-centric solutions, reflecting its dedication to transforming the fintech landscape. Caluwe has expanded the company’s reach, developed innovative solutions, fostered a culture of innovation, and formed strategic partnerships. His strategic approach and ability to understand customer needs have strengthened the company’s position and accelerated its growth.
In a competitive arena with rivals like PayTabs and Verse, it has further managed to stand out for more than a decade by consistently delivering cutting-edge banking and payment solutions. Its ability to navigate this competitive landscape speaks to its industry expertise and innovative approach.
Trusted by major investors such as Visa and GGV Capital, its financial stability and growth potential are underscored. The confidence shown by these prominent shareholders further solidifies the company’s position in the market. The company’s approach and strategic partnerships have enabled it to expand its reach and access new markets, providing a solid foundation for growth. With a strong leadership presence and a culture of innovation, it has positioned itself as a trusted and preferred choice in the competitive fintech industry, driving its ongoing success despite the presence of formidable competitors.
Peter De Caluwe, Chief Executive Officer
He oversees its growth into a global fintech leader, facilitating payments for rapidly expanding businesses worldwide. He plays a pivotal role in leading and directing the company’s operations and strategic initiatives. Under his leadership, Thunes has evolved into a prominent fintech firm that facilitates payments for rapidly growing businesses across the globe. His responsibilities include overseeing the company’s expansion efforts and challenging conventional practices in the realm of cross-border payments. Prior to his role at Thunes, Peter De Caluwe also held executive positions at other notable companies, such as CEO of Payments at Naspers and Ogone (now known as Ingenico ePayments).
Kian Bin Teo, Chief Financial Officer
KB leads the Finance, Treasury, Tax, Legal, Compliance, and Strategy departments at Thunes, ensuring the robustness of our operations. He is a CFA Charterholder with over 25 years of experience in financial planning, corporate finance, risk management, and investor relations. Prior to joining Thunes, he was CFO for technology companies in China and worked as an investment banker for 10 years. Prior to joining Thunes, Teo was CFO for technology companies in China and also worked as an investment banker for 10 years. He is a CFA Charterholder and earned his BA in politics and economics from Oxford University and an MBA from the Kellogg School of Management.
Mike Raath, Chief Technology Officer
He is responsible for making sure that the company’s technology platform is reliable and well-supported so that customers can easily integrate with it. He has a lot of experience in the technology industry, having previously worked at Fox Networks Asia and Naspers portfolio companies (DStv and Showmax). Prior to joining Thunes, Mike was responsible for the team that developed the FOX+ subscription service operating in Asia and Pacific markets on mobile and lean-back devices. He has also held senior technology roles at Naspers portfolio companies (DStv and Showmax) and Barclays.
Thunes has garnered attention not only for its innovative solutions but also for its organizational culture. With a rating of 3.9 out of 5 stars on Glassdoor, its work environment and culture have left a positive impression on its employees.
One key aspect of the company’s organizational culture is its commitment to inclusivity and diversity. The company values different perspectives and experiences, striving to create a welcoming and supportive workplace for all employees, regardless of their background, gender, or ethnicity. Moreover, it is known for its investment in the professional development of its employees. The company recognizes that its success depends on the growth of its workforce, and it offers various opportunities for skill enhancement and career advancement. Employees are encouraged to attend training sessions, conferences, and workshops to stay updated with industry trends and continuously improve their skills.
The company offers a range of benefits that support its employees’ well-being. These benefits include health insurance covering financial, accident, hospitalization, and retirement plans, ensuring that employees and their families are well taken care of. Moreover, the company provides child care options to help working parents balance their professional and personal responsibilities. Additionally, recognizing that employees need time to relax and recharge, Thunes provides generous annual vacation perks. These perks allow employees to take time off to spend with their families, travel, or simply unwind.
Thunes also demonstrates its commitment to equality and work-life balance through its shared parental leave policy. This policy enables both mothers and fathers to take time off to care for their newborn or newly adopted children, promoting gender equality and supporting employees during significant life events.
It thrives on a culture of collaboration and innovation. Employees are encouraged to share their ideas and contribute to the company’s growth. The open communication channels and flat organizational structure foster a sense of ownership among team members, leading to creative solutions and a dynamic work environment.
Allan Green, Chairman
Allan Green is a successful entrepreneur and investor in the technology industry. He has over 20 years of experience helping businesses grow and succeed. He has served as an advisor, investor, and board member to many leading companies in the industry, including Gemalto and Ingenico. He is a seasoned entrepreneur and technology investor with over 20 years of experience. He has transformed numerous companies in his capacity as an advisor, investor, and board member, including industry leaders like Gemalto and Ingenico.
Peter De Caluwe, Chief Executive Officer, Thunes
Peter is responsible for leading the company’s global expansion and driving its product innovation strategy. He is also focused on building strong partnerships with other businesses in the payments ecosystem. Prior to joining Thunes, Peter was CEO of Payments at Naspers, where he oversaw the company’s global payments business. He has also held senior positions at other leading payments companies, including Ogone (now Ingenico ePayments) and DT One.
Jenny Lee, Managing Partner, GGV Capital
She is a Managing Partner at GGV Capital, a global venture capital firm. She is known for her focus on investing in early-stage technology companies in areas such as EdTech, Fintech, Robotics/AI, and EV. She has a proven track record of success, having helped to back and grow many successful companies, including Xiaomi, YY, and Keep. Lee is also a strong advocate for diversity and inclusion in the tech industry. She is a member of the board of directors of Temasek International, a Singaporean investment company, and is also a member of the Asia Business Council.
Sunil Sabharwal, Director
Sabharwal has over 20 years of experience in the fintech industry, both as a board member and C-suite executive at global companies and as an investor in and advisor to leading fintech startups. At the board and C-suite levels, Sabharwal has held positions at GE Capital, First Data Corporation, the European Bank for Reconstruction and Development (EBRD), and Coopers & Lybrand. These companies all have significant fintech operations, and Sabharwal’s experience at these companies gives him a deep understanding of the fintech industry from both a corporate and regulatory perspective.
It is a global payment processing platform that enables businesses to accept payments online and disburse funds to their entities and customers through a range of payment methods and integration options. Founded in 2009, Checkout.com is headquartered in London, UK, and has offices in 19 countries around the world. The company processes payments for over 1,600 merchants, including Netflix, Pizza Hut, and Coinbase.
It is a global venture capital firm that invests in local founders. Founded in 2000, GGV Capital manages over $9 billion in capital across 15 funds and has offices in Silicon Valley, Shanghai, and Beijing. GGV Capital’s portfolio companies include Airbnb, Affirm, Alibaba, Boss Zhipin, Grab and more. It is attracted to Thunes’ strong team, its innovative technology, and its large addressable market. Their investment in Thunes is a sign of the firm’s confidence in the company’s growth potential.
It is a global venture capital and private equity firm that invests in high-growth technology, software, and Internet businesses. The company is headquartered in New York City, with offices in London, Tel Aviv, and Palo Alto. They have invested in over 800 companies worldwide and have seen over 55 portfolio companies achieve an IPO. The company’s investment team is composed of experienced software operators and investors who have a proven track record of success.
It is a global payments technology company that facilitates electronic payments between banks and other financial institutions. The company was founded in 1958 and is headquartered in San Francisco, California. Visa has over 60,000 employees and operates in over 200 countries and territories. Its primary product is the Visa card, which is accepted by millions of merchants around the world. Visa cards can be used to make purchases online, in stores, and over the phone. They also offer a variety of other payment products, such as Visa Direct, which allows businesses to send and receive payments instantly.
- In July 2023 Thunes extended Series C funding to USD $72m with support from Visa, EDBI and Endeavor Catalyst.
- In June 2023 Thunes opened a Beijing office to accelerate China expansion and global cross-border payment evolution.
- In May 2023 Thunes partnered with Saudi Arabia’s New Digital Bank “D360” to Power Instant Cross-Border Payments Across MENA and Key Global Markets.
- Thunes, Rawbank Partner to Power International Mobile Money Transfers with illicocash, in June.
- CurrencyFair Partners with Thunes to Launch 25 Currencies, including Mexican Peso, March.
- Thunes Hires Matt van Geldere as Chief People Officer to support global growth in September 2022.
News and Press Releases
- August 4, 2023: EDBI-Backed Singapore Fintech Startup Thunes Wants To Take On SWIFT (Read)
- June 29, 2023: Fintech Thunes drives better service with empowered agents (Read)
- April 13, 2023: Thunes secures new licence in France (Read)
- September 26, 2022: Global Fintech company, Thunes, joins the United Nations Global Compact and Ecovadis initiatives (Read)
It is an online, mobile, social, and next-generation payment processing powerhouse for merchants and super merchants to grow their business. It is a Saudi-headquartered company that was founded in 2014. PayTabs is available in over 17 countries, including India, Indonesia, Malaysia, Philippines, Singapore, Hong Kong, Algeria, Bahrain, Egypt, Jordan, Kuwait, Lebanon, Morocco, Oman, Saudi Arabia, Tunisia, and UAE. The company is committed to providing its merchants with the best possible payment processing experience.
Finja is a leading cross-border payments company that helps businesses send and receive payments to and from over 120 countries. The company was founded in 2015 and is headquartered in Singapore. Finja has over 100 employees and operates in over 20 countries. It has a global network of partners that allows businesses to send and receive payments to and from over 120 countries.
Verse is a Spanish mobile payment app that allows users to send and receive money instantly, split bills, and save money on commissions when organizing events and selling tickets. It is available for both Android and iOS devices. It is free to use and has no transaction fees. Users can create an account using their mobile phone number and link it to their bank account or debit card. Once their account is set up, users can start sending and receiving money from their friends and family. To send money, users simply need to enter the recipient’s phone number and the amount of money they want to send. The recipient will receive a notification on their phone and will be able to accept the payment immediately.
Kashier is a payment management platform for commerce and retail businesses that provides tools used for running a business. It is a one-stop solution for businesses to manage their payments, subscriptions, invoices, reporting, and analytics. offers a wide range of payment management features, including payment acceptance, subscription management, invoice management, reporting, and analytics.
Thunes recognizes its responsibility not only to its shareholders but also to the communities it serves and the environment in which it operates. Thunes’ commitment to corporate responsibility is evident through its Environmental, Social, and Governance (ESG) initiatives. It is committed to reducing its environmental footprint and mitigating the impact of its operations on the planet. The company understands the importance of sustainability and takes steps to minimize its carbon emissions and conserve resources. Thunes has implemented measures such as energy-efficient technologies, waste reduction, and responsible sourcing of materials to align with its environmental goals.
Moreover, the company recognizes the significance of its social impact and strives to make a positive difference in the communities it serves. This commitment extends beyond its core business operations. The company engages in various social initiatives, such as supporting local charities, promoting financial inclusion, and contributing to community development. It also encourages its employees to volunteer their time and skills for causes that matter to them.
Additionally, it places a strong emphasis on governance and ethical practices within the organization. The company has robust governance structures in place to ensure transparency, accountability, and ethical behavior at all levels. Given its core business of enabling cross-border payments, it plays a critical role in promoting financial inclusion. The company works to expand access to financial services in underserved and remote areas, helping individuals and businesses participate in the global economy. This aligns with the United Nations Sustainable Development Goals (SDGs) and contributes to economic development and poverty reduction.
Thunes channels its innovation capabilities to create solutions that address pressing global challenges. Whether it’s enhancing financial access for the unbanked, facilitating humanitarian aid, or supporting disaster relief efforts, its commitment to innovation for positive impact is a testament to its corporate responsibility. Further, to ensure accountability and transparency in its corporate responsibility efforts, it regularly reports on its ESG performance. This includes disclosing key metrics, targets, and progress toward its environmental and social goals. Transparent reporting allows stakeholders to assess Thunes’ commitment to responsible business practices.
By prioritizing environmental sustainability, social impact, governance, and ethical practices, it not only demonstrates its commitment to being a responsible corporate citizen but also aligns with the expectations of today’s socially conscious consumers and investors.