A cross-border payments network
Applicant name: Thunes
Innovation Name: Thunes
Innovation Type: Service
Website: http://www.thunes.com
Mission: Our mission is to make financial services accessible to everyone everywhere.
Innovation Description: Thunes is a cross-border payments network that connects various payments systems enabling mobile wallets, corporations, merchants, money transfer operators, and banks to move funds in and out of emerging countries in real-time. Thunes acts as a trusted, neutral aggregator in a deeply fragmented industry thereby reducing the barriers that have historically slowed financial inclusion in harder to reach places. Thunes partners can lower both capital and operational expenditures, thus decreasing their customer-facing price for cross-border transactions.
Status of Innovation: In-market
Innovation Active Since: 08/04/2019
Applicant Type: Private Company
Headquarter City: Singapore
Headquarter Country: Singapore
Year Founded: 1991
Main Category
Main Category Choice: Remittances For Social Impact
Why do you think you should win this category?:
By interconnect diverse payments systems and enabling financial institutions to move funds with various payments options, it benefits a wide range of end users for our partners. For instance, thanks to our connection to mobile and online payments solution, it removes the need to physically reach agent points. This benefits women who might not be able to reach agents due to safety reasons, as well as the populations living in remote areas where agents are not accessible. To date, Thunes has facilitated cross-border transfers between 2million+ unique senders and 2 million+ unique recipients.
Secondary Category
Secondary Category Choice: B2B Solution
Why do you think you should win this category?
Today we cover 80+ countries, 60+ currencies and have processed more than $3bn transactions. A simple integration with our API removes the burden of integration and tech development and unlocks limitless opportunities for our partners.
We are able to integrate directly with our partners to give them access to all our network. It significantly lowers the cost for them to develop their own solutions as well as it gives them more options to choose from to send and receive money.
Team Members
Full Name: Amelie Marivain
Role: Marketing Director
Linkedin: https://www.linkedin.com/in/ameliemarivain/
Full Name: Steve Vickers
Role: CEO
Link: https://www.linkedin.com/in/steve-vickers-028bb616/
Full Name: KB Teo
Role: CFO
Full Name: Aik Boon Tan
Role: Chief Commercial Officer
Supporting Links
Press release on our series A founding round: https://www.thunes.com/2019/05/06/thunes-closes-10-million-series-a-investment-from-global-vc-ggv-capital/
Press release on our work in Africa “Thunes helped give millions of Africans the ability to top up PayPal and M-pesa accounts so they could access digital marketplaces.”: https://www.scmp.com/week-asia/economics/article/3013442/12-billion-reasons-singapore-tech-firms-think-africa-next-big
Thunes takes part in the United Nations Capital Development Fund’s (UNCDF) – Shaping Inclusive Finance Transformations (SHIFT) programme: https://singaporefintech.org/thunes-joins-forces-with-singtel-and-uncdf-to-accelerate-financial-inclusion-in-myanmar/
Thunes future plans article: https://kr-asia.com/we-do-mass-payouts-for-thousands-of-grab-drivers-thunes-ceo-steve-vickers
Entry Representative
Full Name: Amelie Marivain
Role: Marketing Director
