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June 15, 2023
Thunes opens Beijing office to accelerate China expansion and global cross-border payment evolution
Thunes, the global B2B payment infrastructure platform, today announced the inauguration of its new office in Beijing, China. This strategic move signifies Thunes’ commitment to empowering Chinese businesses and consumers by providing faster and more affordable transactions with key international markets.
The opening ceremony of the Thunes’ Beijing office was attended by a distinguished delegation of global company executives, led by Allan Green, Chairman, Peter De Caluwe, CEO, and Daphne Huang, Senior Vice President for Asia Pacific and Greater China, along with esteemed Beijing City government officials.
“In recent years, the functions of Beijing as the National Center of Financial Management have been significantly improved because of a number of factors. These include the strategic positioning of the capital, the opportunities generated from the focus of Beijing to develop into a Pilot Free Trade Zone and an Integrated National Demonstration Zone for further expanding the service sector, as well as the opening up of the financial industry. The financial industry is the first pillar of industry in Beijing. Leveraging our ‘finance + technology + data’ competitive strength, Beijing is a front-runner in fintech nationwide and also a leading fintech city worldwide. The establishment of Thunes China is another achievement of Beijing in terms of its development and opening up of financial industry. This will further promote Beijing’s efforts in developing into a leading fintech hub globally,” said LI Wenhong, Director-General of Beijing Municipal Bureau of Local Financial Regulation and Supervision.
“We strive to attract leading fintech companies to come to Lize Financial Business District (FBD) and expand our digital finance eco-system. An increasing number of innovative fintech enterprises are now in Lize Financial Business District of Fengtai and help drive our vision of building a strong ‘finance + technology’ industrial sector. Thunes is the 1,000th enterprise in Lize FBD and this is significant for the opening-up of Fengtai financial industry,” said CHU Junwei, Deputy Party Secretary of CPC Fengtai Committee and Fengtai District Mayor.
“What makes Thunes unique is our proprietary global network of direct connections with local payment brands enabling a better, more connected cross-border payment experience. With the establishment of our Beijing office, we have the opportunity to further enhance trade and economic opportunities between China and the rest of the world, and simplify access to international payments for China-based businesses and consumers, regardless of the country they intend to connect to or payment method used in that country. We are also looking to integrate with China’s domestic payment systems.”
Peter De Caluwe, CEO of Thunes.
“Our decision to open an official office here was driven by several important factors, including the enormous economic potential of the Chinese market, the ever-increasing volume of cross-border transactions involving China, and the growing demand for efficient payment solutions,” he added.
“China’s digital payment ecosystem and e-commerce sector are globally recognised for their leadership. Thunes is committed to connecting this dynamic market with the rest of the world through our innovative payment infrastructure. Since our entry into China in late 2021, we have rapidly expanded our presence, and the establishment of Thunes China in Beijing marks a significant milestone in our commitment to the Chinese market. It further reinforces our dedication to localising Thunes’ products and services for our customers in this region.”
Daphne Huang, Senior Vice President for Asia Pacific and Greater China
To facilitate this ambitious endeavour, Thunes has established Thunes China, which will serve as the company’s registered entity in the country. This critical step will allow Thunes to better support its growth and development in the Greater China region.
The new Thunes Beijing office will be located in Fengtai Lize Financial Business District of Fengtai, Beijing.
The Beijing office will become the headquarters for Thunes’ Greater China activity and Thunes will invest heavily in building up a team on the ground to meet its ambitious goals. In the next 12 months, Thunes expects to more than double its current team in the region, employing around 60 people covering all key business areas: business development, customer service, product & technology, legal, compliance, treasury, human resources, etc. This diverse and talented workforce will drive Thunes’ mission to provide efficient payment rails, enabling Chinese licensed institutions, such as banks, third-party payment service providers, e-commerce marketplaces, importers and exporters, to leverage Thunes’ global network capabilities and capacities.
Thunes has already secured strategic partnerships with China-based companies. In 2022, Thunes announced its partnership with Tencent Financial Technology, the fintech arm of Tencent in China. Thunes has reportedly become the first payment infrastructure partner connecting with Tencent which owns WeChat – arguably the most popular social media app amongst Chinese users. This collaboration allows members of Thunes’ global network to send international payments to WeChat users, thus offering them fast and easy access to the Chinese market.
About Thunes: Founded in 2016, Thunes is a global B2B payment infrastructure platform that powers payments for the world’s fastest-growing businesses – from gig economy giants such as Uber and Deliveroo and Southeast Asia’s super-app Grab to global fintech leaders such as PayPal, Remitly, Finastra, and Revolut. Through a single, simple connection, consumers and businesses can send payments to – and get paid in – every corner of the world. Thunes currently supports 80 currencies, enables payments to 130 countries and helps to accept 300 payment methods. In April 2022, Thunes acquired a controlling stake in a leading anti-money laundering and compliance platform company Tookitaki, which now enables the company’s advanced compliance, anti-fraud, and anti-money laundering capabilities, setting an international benchmark for sustainable compliance. The company is headquartered in Singapore, with regional offices in London, Paris, Shanghai, Dubai, Hong Kong, Barcelona, Miami, Beijing, and Nairobi. Current investors include Marshall Wace, Bessemer Venture Partners, 01Fintech, Insight Partners, Checkout.com, Helios Investment Partners, and GGV Capital. For more information, visit www.thunes.com
Contact: thunes@headlandconsultancy.com
