Thunes opened a New York office in Union Square to support cross-border payouts for American businesses, marking an expansion of its US footprint that added to existing operations in San Francisco and Atlanta.
US EXPANSION STRATEGY
The move followed Thunes' Series D funding round announced last year, with the company using capital from its US$150 million Series D to accelerate its US market push, the company said. Thunes said the New York hub would serve as a critical centre for regional expansion and talent acquisition.
Thunes said the opening extended its Direct Global Network, which connects its Members to billions of endpoints across more than 140 countries and 90 currencies. Thunes said the Union Square location put it close to many of its Members and to local industry leaders, allowing more direct engagement within the financial ecosystem.
WHAT THUNES SAID
Chief Commercial Officer Simon Nelson said the company's investment in the US market this year was "a direct response to the massive demand from American businesses looking for faster, more transparent ways to move money globally."
Thunes said it aims to help US gig economy platforms, marketplaces, payment service providers and financial institutions pay out instantly to billions of endpoints globally.
Thunes said it owns and operates its own US regulatory licences, holding 50 money transmission licences across US states and territories, and that being close to local industry leaders allows more direct engagement within the financial ecosystem. Kyle Rosen, Head of Americas, called the licence footprint "a huge differentiator for us".
Thunes said it was recruiting for several key roles to support its expanding operations, with a focus on business development.
Sources: Fintech News Singapore