Here's Thunes! This Singapore-based fintech lets businesses receive and send money anywhere in the world — through e-wallets, bank accounts and more. Now, they're doubling down on this mission by investing over $20M for majority stake in Tookitaki, a regulatory tech startup.

• Thunes' last round was a $60M Series B extension led by Insight Partners.

🔁  Makin' money go round

Thunes works with different companies, from fintechs to marketplaces. Through Thunes, they send and accept cross-border payments faster and cheaper through multiple local payment methods.

Their APIs and solutions allow simple cross-border payments, business payments, mass payments, virtual accounts, collections and SME payments.

• Send money through up to 285+ payment methods in 70+ countries.
• Enjoy low fees, and track transfers in real-time.

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🧠  Why it matters

Fintechs and financial institutions use Thunes to expand their services since Thunes' tech and network lets them send $$$ across more countries and currencies.

Their other customers like platforms and marketplaces enjoy fast and compliant cross-border payments across their international operations.

💵  What's with the acquisition?

Tookitaki works with banks, companies and financial institutions to help them with anti-money laundering and compliance.

• They track over 180M transactions a year.

Since companies like Thunes make it easier for businesses to send payments to any corner of the world, the number of cross-border payments has gone way up.

• This increases both the risk of money laundering and the cost of compliance.
• According to the UN, about 2–5% of the global GDP (about $800B–$2T) is laundered each year.

Power couple! Bringing Tookitaki into Thunes' network will help embed automated and streamlined compliance processes that reduce money laundering and costs while also offering safe and secure payments.

• Tookitaki will also be expanding deeper into APAC, the Middle East, Europe and the Americas.