Thunes Snaps up Majority Stake in Compliance Firm Tookitaki

Global payments firm Thunes is acquiring a $20 million majority stake in the anti-money laundering (AML) and compliance platform Tookitaki to drive international growth for both businesses, according to a press release on Tuesday (April 19).

Both companies are headquartered in Singapore. Per the release, the deal will extend Tookitaki’s compliance and AML capabilities and expand its footprint in core Asia-Pacific (APAC) markets – Singapore, Indonesia, Malaysia, the Philippines and Taiwan — as well as the Middle East, Europe and the Americas.

Tookitaki tracks in excess of 180 million transactions each year and works with Grab, Deliveroo, UberEats, Moneygram, Western Union, Remitly, Revolut, Paypal and more.

By adding Tookitaki to Thunes’ global network, the companies can address the need for payments firms and financial institutions to embed automated, streamlined compliance processes in order to reduce risks and overall costs. Working together, both companies will strive to further safeguard businesses and create more transparency around global payment flows.

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“This alliance will give all Thunes customers access to next-generation tech compliance systems, reducing the cost of transferring money across borders,” Thunes CEO Peter De Caluwe said in the release. “At the same time, all Tookitaki’s banking and fintech clients will automatically gain access to Thunes’ network, unlocking pathways to scale globally.

“We’ve already identified multiple ways to grow faster together, increasing the value we provide to our customers. We’ll be working to accelerate our growth plans jointly.”

Thunes and Tookitaki will operate independently, with the partnership strengthening both firms and helping them reach international expansion goals. The alliance also establishes a global benchmark for financial compliance and security while creating a secure foundation for inclusive payments worldwide.

“At Tookitaki, we have been passionate about fighting financial crime and expanding our AML capabilities globally,” said Abhishek Chatterjee, founder and CEO of Tookitaki. “Thunes is recognized for its far-reaching global network, and the alliance provides us with an ‘unfair’ opportunity to offer our proven and powerful AML solution to banks and fintechs across the fastest growing economies as well as the biggest.”