Marshall Wace Invests US$30 Million in Thunes’ Series C

Marshall Wace Invests US$30 Million in Thunes’ Series C

by March 27, 2023

Global hedge fund Marshall Wace has reportedly invested US$30 million in global cross-border payments firm Thunes as part of its Series C funding round according a disclosure the firm made to Singapore’s Accounting and Corporate Regulatory Authority (ACRA).

A report by Deal Street Asia indicated that Thunes may raise additional funding up to US$30 million for this particular tranche.

However, the firm itself did not elaborate on the total size of the investment round or who the other potential investors may be in a statement to PYMNTS on 24 March (Friday).

In May 2021, Thunes had managed to bag US$60 million in a Series B funding round which nudged the company’s total funding to US$130 million in less than two years.

Since then, Thunes had acquired its Paris-based counterpart Limonetik as well as anti-money laundering (AML) and compliance technology firm Tookitaki.