Thunes - Competitive Intelligence¶
| Owner | Classification | Review Date | Status |
|---|---|---|---|
| Product | Confidential | April 2027 | Active |
Overview¶
| Field | Detail |
|---|---|
| Company | Thunes |
| Website | thunes.com |
| Founded | 2016 |
| HQ | Singapore |
| Employees | ~400 |
| Funding | $150M Series D (April 2025) - Apis Partners, Vitruvian Partners |
| Threat Level | High - direct infrastructure competitor in Simpaisa's core corridors |
| Partner Potential | High - DGN membership gives access to 550+ wallet/bank integrations |
| Relationship | Competitor / Partner candidate (join DGN as member) |
What They Do¶
Thunes operates a proprietary Direct Global Network (DGN) for B2B cross-border payments, connecting banks, fintechs, mobile wallets, and enterprises across 130+ countries. They are not consumer-facing - they are infrastructure. Their April 2025 launch of "Thunes Business Payments" specifically targets neo-banks, traditional banks, and enterprises.
Thunes competes directly with Simpaisa's wholesale/platform model in the same corridors: UAE→Pakistan, Saudi→Pakistan, and across South Asian inbound remittances. In September 2025 they partnered with Ripple, adding XRP-based liquidity to their network. In late 2025 they joined the Circle Payments Network for stablecoin settlement.
Key Capabilities¶
| Capability | Detail |
|---|---|
| Network reach | 130+ countries, 80 currencies, 7 billion+ wallets and bank accounts reachable |
| Direct integrations | 550+ direct DGN members including banks, MNOs, wallet operators |
| South Asia coverage | JazzCash, Easypaisa, bKash, e-Sewa (Nepal) - all direct integrations |
| Settlement speed | Real-time in 130+ countries |
| Stablecoin rails | Circle Payments Network member (late 2025); USDC settlement layer |
| Ripple integration | Ripple partnership (September 2025): XRP bridge liquidity for ODL corridors |
| Business Payments | April 2025: enterprise B2B cross-border in 30+ currencies including PKR |
| TeleMoney | Arab National Bank's TeleMoney is a DGN member - active SAR to Pakistan/Nepal/Bangladesh corridor |
Geographic Overlap with Simpaisa¶
| Market | Thunes Status | Overlap Level |
|---|---|---|
| Pakistan (JazzCash, EasyPaisa) | Direct DGN integration | High direct overlap |
| Bangladesh (bKash) | Direct DGN integration | High direct overlap |
| Nepal (e-Sewa) | Direct DGN integration | High direct overlap |
| UAE (send corridor) | Active via exchange partners | Medium overlap |
| Saudi Arabia (TeleMoney/Arab National Bank) | DGN member active | Medium overlap |
| Iraq | Partial coverage | Low overlap |
| Central Asia | Limited | Low overlap |
Threat Assessment¶
Rating: 🔴 High
Thunes is the most direct infrastructure-layer competitor to Simpaisa's cross-border payout model. They have direct integrations into every major wallet Simpaisa serves (JazzCash, Easypaisa, bKash, e-Sewa) and are actively selling to the same enterprise and neo-bank customers across the same corridors. Their $150M Series D (April 2025) signals aggressive expansion.
Key risk: If a global remittance app (Zepz, Nala, Remitly) builds on Thunes DGN for South Asian last-mile delivery, they bypass Simpaisa's network entirely. Simpaisa's mitigation is to join the DGN as a member, converting Thunes from competitor to partner.
Partner Opportunity¶
Recommended action: Join the Thunes Direct Global Network as a Member.
DGN membership would give Simpaisa instant access to 550+ wallet and bank integrations without building each individually. Thunes sells infrastructure, not end-merchant relationships - Simpaisa retains the customer. This is the fastest path to scale on inbound South Asian corridors.
Contact Thunes BD team directly. Singapore HQ; MENA BD managed from Dubai.
Intelligence Notes¶
| Date | Note |
|---|---|
| April 2026 | Added deep-dive. Recommend DGN membership discussion. Monitor Ripple/Circle integrations - these directly affect Simpaisa's crypto corridor positioning. |
| September 2025 | Ripple partnership announced - XRP bridge liquidity added to DGN. |
| April 2025 | $150M Series D raised. Thunes Business Payments launched targeting enterprise B2B cross-border. |
Related Documents¶
| Document | Relevance |
|---|---|
| Corridor Partner Strategy | Thunes is Priority 1 partner in corridor strategy |
| Competitive Landscape - Full Analysis | Full landscape context |
| Nium - Competitive Intelligence | Nium - similar infrastructure competitor |