Thunes lands $60m in growth capital from Insight Partners

Image Credit: Pixabay

After raising $60 million in a Helios Investment Partner-led Series B round in September last year, Thunes has raised an additional chunk of growth capital from another blue-chip investor, namely Insight Partners,  a US-based private equity and venture capital firm. The five-year-old fintech now had an additional $60 million in the bank, bringing the total amount of funding raised by the firm to $130 million. No additional details about the investment have been disclosed.

The capital will be used to support Thunes’s plans to scale its business rapidly. The company sees its greatest opportunities for growth in the continents of Africa, Asia, and Latin America, and is hiring more people and developing its offering to include business payments and collections from emerging markets. “We see the company as poised for massive growth as it expands its infrastructure,” noted Deven Parekh, a Managing Director at Insight Partners, adding, “We are looking forward to helping them scale up.”

To read this article, you must be a paid subscription member. (Current members login here)

\"\"

Reserve your digital subscription today

Join now for $35 per month

Join now for $395 per year

for access to:

  • Weekly newsletter with original and curated news, analysis and perspective
  • Africa’s private capital deals, fund raises and the investment firms and executives involved
  • Portfolio company news that impacts value and stakeholder participation
  • Job moves and partnerships between leading market participants
  • Exclusive access to Africa Capital Digest’s full content archive

If you’d like more information on exceptional value group subscriptions for your colleagues and teams, please contact Teresa Hall at thall[at]africacapitaldigest.com today.