Emerging market focused cash transfer company Thunes bagged $10 million in VC funding and laid out plans to increase in its global office footprint in a bid to boost its partner base.
Thunes runs a remittance hub, which processes funds between mobile wallets and more traditional finance providers.
It holds partnership agreements with a number of mobile money providers and transaction processors, offering transfer to 80 countries and to platforms provided by 9,000 companies.
With the $10 million raised in its latest funding round, led by VC company GGV Capital, Thunes said it would further develop its platform and introduce measures to accelerate growth in Africa, Asia and Latin America. It will also open new offices in San Francisco, Dubai and Paris.
In a statement, Thunes said: “The goal is to build more strategic partnerships that will help bring improved payment solutions to businesses and consumers in emerging economies.”
Executive chairman Peter de Caluwe added the backing would allow it to “accelerate our company mission”.Subscribe to our daily newsletter Back