Thunes Acquires Paris-Based Limonetik to Expand Its Cross-Border Payments Platformby Fintech News Singapore July 21, 2021
Cross-border payments firm Thunes has announced the acquisition of its European counterpart Limonetik which is one of the earliest developers of an alternative payment methods platform suitable for international merchants and marketplaces.
Similar to Thunes, the firm closely partners with payment service providers and financial institutions.
This move will complement Thunes’ existing cross-border payments solutions by enabling businesses to get paid in 70 countries, using over 285 local payment methods such as mobile wallets, payment by instalments (BNPL), QR code payments and more. The solution will be known as Thunes Collections.
Founded in Paris in 2008, Limonetik’s platform has over 14,000 merchants, marketplaces and fintech players and has processed more than EUR 2 billion a year.
Thunes is also unveiling a new brand identity, including a new logo and website to better reflect its market position and expanding service offerings.
In May 2021, Thunes announced a US$60 million Series B growth round led by global private equity and venture capital firm Insight Partners, bringing the company’s total funding to US$130 million in less than two years.
The funding enabled Thunes to speed up investment in its operations, product and technology.
“Thunes is recognised for our far-reaching global network and brilliantly simple payments solution. We are excited to further strengthen our offering with a global collections capability made possible through the acquisition of Limonetik.
We welcome the Limonetik team to Thunes, and as one, we look forward to offering a single end-to-end payment solution that connects every corner of the world and makes the global economy accessible to all.”
said Peter De Caluwe, CEO of Thunes.
“Limonetik has been driving the transformation of collections with its platform as-a-service (PaaS) model, while Thunes possesses a powerful global payments network.
We are incredibly excited to extend our combined payments and collections solutions across the world,”
said Christophe Bourbier, Founder of Limonetik.
Featured image credit: edited from Unsplash