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Thunes to boost US footprint with acquisition of Tilia | Fintech InShorts: Latest fintech news, analysis by experts
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Thunes to boost US footprint with acquisition of Tilia
BankingBusinessFinTech
1 min.Read

Thunes to boost US footprint with acquisition of Tilia

Laura M
By Laura M
  1. Acquisition Details:
    • Thunes, a B2B payments infrastructure firm, has signed a definitive agreement to acquire Tilia.
    • Tilia, founded in 2019, offers acceptance and pay-out services for various sectors, including in-app purchases, creator economies, online games, and virtual worlds.
  2. Strategic Expansion into US Gaming Market:
    • The acquisition of Tilia aims to fuel Thunes’ expansion into the US online gaming market.
    • Thunes plans to leverage Tilia’s technology to offer acceptance services for major card networks such as American Express, JCB, MasterCard, UnionPay, and Visa to its customers.
  3. Extended Network and Geographic Reach:
    • Tilia’s licensing in 48 US states and territories will extend Thunes’ network, enabling real-time acceptance and payments across the US for business owners.
    • Upon completion of the acquisition, Tilia will rebrand as Thunes and continue its operations from its San Francisco headquarters.
  4. Partnership with Linden Lab:
    • Thunes has entered into a five-year partnership with Linden Research (Linden Lab), the current majority owner of Tilia.
    • This partnership will involve Thunes providing payment processing and payout solutions to Linden Lab, facilitating real-time payments for gamers.
  5. CEO Statements:
    • Floris de Kort, CEO of Thunes, highlights the ambition in the US market and the investment to leverage Tilia’s capabilities for direct money movement solutions.
    • Brad Oberwager, CEO of Linden Lab, expects the acquisition to offer customers more payment choices and real-time pay-outs, enhancing their gaming experience.
  6. Regulatory Approval and Financial Terms:
    • The acquisition is subject to regulatory approval, and the financial terms have not been disclosed.

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