Cross-border payments leader Thunes today announced the acquisition of Limonetik, a European Payment Methods Platform.
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 (BNPL), QR code payments and more. The solution will be known as Thunes Collections.
Limonetik is one of the earliest developers 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 2 billion 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 & 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. We believe collecting funds globally should be easy regardless of customer location.
By joining the Thunes global payment and collection networks, businesses and their customers can send payments to - and get paid in - even the hardest-to-reach corners of the world. With a single, simple connection, Thunes offers fast, transparent and affordable payments across the world and will now also enable more flexible ways to collect funds.
"Thunes is recognised for our far-reaching global network and brilliantly simple payments solution. We are excited to further strengthen our offering with a global collections capability made possible through the acquisition of Limonetik. We welcome the Limonetik team to Thunes, and as one, we look forward to offering a single end-to-end payment solution that connects every corner of the world and makes the global economy accessible to all." commented Peter De Caluwe, CEO of Thunes.
"Limonetik has been driving the transformation of collections with its platform-as-a-service (PaaS) model, while Thunes possesses a powerful global payments network. We are incredibly excited to extend our combined payments and collections solutions across the world," said Christophe Bourbier, founder of Limonetik.
Thunes is also unveiling a new brand identity, including a new logo and website to better reflect its well-established market position and expanding service offerings. These changes arrive four years after Thunes' inception and the company's successful diversification and scaling of its offering while broadening its global presence.
In May 2021, Thunes announced a US$60 million Series B growth round led by global private equity and venture capital firm Insight Partners, bringing the company's total funding to US$130 million in less than two years. Insight Partners' support enables Thunes to speed up investment in its operations, product and technology.