Thunes, a global cross-border payments company, has signed a definitive agreement to acquire Tilia while Singapore-based fintech startup Qashier has been awarded in-principle approval by the MAS.
Thunes announces deal to buy Tilia
Thunes, a global cross-border payments company, has signed a definitive agreement to acquire Tilia LLC, an all-in-one payments platform, which has expertise in online gaming, according to an announcement. The financial details of the transaction were not disclosed.
As part of the transaction, Thunes and Tilia’s majority owner Linden Research have agreed to an exclusive five-year partnership in which Thunes will provide payment processing and pay-outs to Linden Lab, allowing gamers to pay and receive money real-time via Thunes’ global network. Tilia will be rebranded as Thunes and will remain based in San Francisco.
Tilia is licensed in 48 US states and territories and offers payment solutions (acceptance and pay-outs) for online games, virtual worlds, creator economies, and in-app purchases. Thunes is a global payment innovator that facilitates payments in 84 currencies across 133 countries.
Qashier gets MAS nod for major payment institution licence
Singapore-based fintech startup Qashier has been granted in-principle approval by the Monetary Authority of Singapore (MAS) for a major payment institution (MPI) licence to offer merchant acquisition services, and domestic and cross-border money transfer services, according to an announcement on Tuesday.
Following the approval, the company intends to continue investing in R&D to expand its offerings across Southeast Asia, and beyond the region, it added.
To facilitate transactions across Southeast Asia from 2019–2024, Qashier was exempted under the PS Act for a specified period so that it could provide services including domestic money transfers, inward cross-border money transfers, and merchant acquisitions.
Since the company’s inception in 2019, Qashier has processed over $1 billion worth of transactions and empowered over 6,000 businesses across Southeast Asia with its integrated hardware and cloud-based software solution that streamline business operations.
Qashier continues to grow and currently has four offices across Southeast Asia: Malaysia, the Philippines, Singapore, and Thailand. The company plans to continue investing in research and development to deliver more innovative solutions to businesses in the region and beyond.
Last year, Qashier raised $10 million in its Series A funding round co-anchored by Luxembourg-based IFP Securities; and Delivery Hero Ventures, a venture capital fund backed by Delivery Hero.
