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Thunes Acquires Limonetik to Accelerate Rollout of Global Payment Collections
Thursday 22 July 2021

Singapore-based cross-border payments firm Thunes has acquired European payment methods platform Limonetik, the firm said.

This move will complement existing Thunes 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, QR code payments and more.

The solution will be known as Thunes Collections.

Limonetik is a developer of an alternative payment methods platform suitable for international merchants and marketplaces.

And like Thunes, the firm closely partners with payment service providers and financial institutions.

Processing more than EUR 2bn a year, Limonetik is trusted by over 14,000 merchants, marketplaces and fintech players, including Deliveroo, Uber Eats, Veepee, CMA - CGM, Worldline - Ingenico, ACI, Amadeus and Natixis.

Founded in Paris in 2008, Limonetik is led by CEO and co-founder Christophe Bourbier, a multiple-time entrepreneur and payment space expert. Today, Limonetik counts 50 employees who will become Thunesters.

Rapid growth in cross-border e-commerce trade has made it essential for global sellers to accept payments in locally preferred methods.

There are over 400 alternative payment methods, and this diversity brings integration complexity and back-office costs that Limonetik's offering resolves with a single API integration.

In May 2021, Thunes announced a USD 60m series B growth round led by global private equity and venture capital firm Insight Partners, bringing the company's total funding to USD 130m in less than two years.

Insight Partners' support enables Thunes to speed up investment in its operations, product and technology.

Thunes is used by global banks, money transfer operators, platforms and many other businesses to make payments to bank accounts, mobile wallets and cash pick-up providers around the world.

Thunes is headquartered in Singapore with regional offices in London, France, Shanghai, New York, Dubai, and Nairobi.

Limonetik is headquartered in Paris.
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Date Published: 22/07/2021

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