Thunes CEO Comeback Signals Confidence Amid Growth

TLDRs:

• Peter De Caluwe returns as Thunes CEO during strong growth and profitable expansion.
• Thunes secures operational licenses across all 50 US states, supporting ambitious expansion plans.
• Acquisition of Tilia strengthens Thunes’ presence in US gaming and creator economy payments.
• Founder-led leadership change positions Thunes to leverage cross-border payment market consolidation.

Peter De Caluwe, co-founder of Singapore-based cross-border payments company Thunes, has returned as CEO, taking over from Floris de Kort. De Caluwe had been serving as deputy chairman for the past 18 months, overseeing strategic developments while observing the company’s growth trajectory.

Unlike many founder comebacks that occur during crises, De Caluwe’s return coincides with a profitable expansion phase for Thunes.

In April 2025, the company completed a $150 million Series D funding round and reported a $150 million revenue run-rate alongside positive EBITDA. The timing suggests a move to guide the next stage of growth rather than to rescue operations.

Expansion into US Market

Thunes has been steadily increasing its footprint in the United States. Securing operational licenses across all 50 states has positioned the company to serve both individual and corporate clients more efficiently. Its extensive network enables international transfers across bank accounts, mobile wallets, cards, and digital assets.

In a strategic move to strengthen its US presence, Thunes is set to acquire Tilia, a payments provider for online games, virtual worlds, and the creator economy.

The acquisition, which awaits regulatory approval, will allow Thunes to support Tilia’s existing customer base and enter into a five-year exclusive partnership with Linden Lab, the developer behind Second Life. Tilia will adopt the Thunes brand but retain its San Francisco headquarters.

Capitalizing on Market Consolidation

The cross-border payments sector is experiencing rapid consolidation, with the market expected to reach $65 trillion by 2032.

Thunes’ Direct Global Network spans over 130 countries and 80 currencies, giving the company a strategic advantage as traditional financial institutions seek established partners rather than building new infrastructure.

Industry recognition further underscores Thunes’ competitive position. The firm recently won the Best Payment Solution Award at the 2025 Asian Banking & Finance Fintech Awards, highlighting its operational reliability and innovation. In a market increasingly dominated by partnerships and network effects, Thunes’ founder-led leadership aims to capitalize on these trends.

Strategic Leadership for Next Growth Phase

De Caluwe’s return as CEO reflects a broader strategy to reinforce Thunes’ leadership in global payments. His previous role as deputy chairman provided insight into operational strengths and market opportunities, positioning him to drive both product expansion and geographical reach.

The company currently connects 4 billion bank accounts, 3 billion digital wallets, and 550 alternative payment methods globally. With offices in Singapore, London, Shanghai, Beijing, Dubai, Hong Kong, and Miami, Thunes is poised to extend its influence across diverse markets. By combining strategic acquisitions like Tilia with founder-led guidance, the company aims to solidify its role as a key player in the evolving cross-border payments landscape.

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