It is reported that the European payment methods platform Limonetik has been acquired by the cross-border payments network Thunes.
This move will complement the existing cross-border payment capabilities of Thunes, by allowing the network to process payments across 70 different countries worldwide, utilising over 285 local payment methods; including mobile wallets, payment by instalments (BNPL), and QR code payment technology. 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 has a habit of forming close partnerships with payment service providers and financial institutions.
Processing more than €2 billion a year, Limonetik is trusted by over 14,000 merchants, marketplaces, and fintech players, including the likes of Deliveroo, Uber Eats, Veepee, CMA, and Natixis. Founded in Paris in 2007, Limonetik is led by CEO & co-founder Christophe Bourbier, a multiple-time entrepreneur and payment space expert.
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.
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 shares in the belief that collecting funds globally should be easy; regardless of customer location.
“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,” comments Peter De Caluwe, CEO of Thunes. “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.”
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.
“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,” added Christophe Bourbier, founder of Limonetik.
In May 2021, Thunes announced a $60 million Series B growth round led by global private equity and venture capital firm Insight Partners, bringing the company’s total funding to $130 million in less than two years. Insight Partners’ support enables Thunes to speed up investment in its operations, product, and technology.