Peter De Caluwe is a co-founder of Thunes. The company traces back to TransferTo, founded in 2005 to move mobile airtime across borders.
In 2016 that business split into DT One, which kept mobile top-ups, and Thunes, which went after cross-border B2B payments. De Caluwe later served as Deputy Chairman.
Thunes raised a Series B in 2020 led by Helios Investment Partners with Checkout.com and GGV Capital. It acquired Limonetik in 2021 and took a majority stake in Tookitaki in April 2022. In July 2023 a $72 million Series C led by Marshall Wace valued it at over $900 million.
In April 2025 Thunes raised a $150 million Series D. In June 2025 it announced the Tilia acquisition. In October 2025 De Caluwe returned as CEO.