Thunes Strengthens Board of Directors with Key Appointments

The B2B global payments network attracts prominent business leaders to support its growth plans

SINGAPORE, Nov. 16, 2020 /PRNewswire/ -- Thunes, a leading cross-border payments network, today announced the appointments of The Honorable Sunil Sabharwal and Ali Mazanderani to its Board of Directors. Both will also take up chairmanship positions at the company - Sabharwal as Chairman of the Audit and Regulatory Committee and Mazanderani as Chairman of the Strategy Committee.

"It is my pleasure to welcome Sunil Sabharwal and Ali Mazanderani as directors. Their contributions will further strengthen our board's breadth of talent, experience and global reach," said Peter De Caluwe, CEO of Thunes. "I am confident that their combined expertise will have a positive impact on Thunes' next phase of development."

Sabharwal joins the board with decades of advisory, private equity and financial technology experience at notable firms such as GE Capital and Ingenico (formerly Ogone). In recent years, as the U.S. Alternate Executive Director to the International Monetary Fund (IMF), Sabharwal was responsible for casting the United States' vote on IMF decisions and took an active role in advancing multiple financial technology initiatives there.

The Indian-American investor has led multiple exits during his time at private equity firms and is well-versed at paving growth paths for companies. In his new role, Sabharwal will be vital in contributing strategic oversight, managing relationships with regulators and financial institutions, and providing M&A advisory expertise.

"I have great admiration for Thunes' vision and work in solving cross-border payments challenges in the emerging markets of the world," commented Sabharwal. "I am honoured to join their Board, and I look forward to working closely with them."

Mazanderani brings with him years of in-depth knowledge and expertise in driving fintech investments and heading strategy in banks. He is the co-founder and chairman of SaltPay, and also serves as a non-executive director on the board of several fintech companies including StoneCo (NASDAQ: STNE) and Network International (LSE: NETW).

Mazanderani's extensive background in the global payments industry and credentials in leading fintech transactions positions him well to advise Thunes on strategic activity and help drive inorganic growth.

"Having followed Thunes' growth over the past few years, I am delighted to have the opportunity to contribute as a Board member," Mazanderani shared. "Thunes' unique solutions and robust leadership will transform how the world moves money across borders, and it is exciting to play a part in this."


About Thunes

Thunes is a B2B cross-border payments network that enables corporates and financial institutions to move funds seamlessly and provide financial services in emerging markets. Our global platform connects mobile wallet providers, banks, technology companies and money transfer operators in more than 100 countries and 60 currencies. Through our growing network, Thunes' solutions allow over 400 partners across the world to send and receive money on a global scale. Thunes is headquartered in Singapore with regional offices in London, Shanghai, New York, Dubai, and Nairobi.

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Ali Mazanderani, Director

Ali Mazanderani brings with him years of experience leading landmark fintech investments globally and heading strategy in banks. A fintech investor and entrepreneur, Ali co-founded and currently serves as chairman of Salt Pay.

He is also a non-executive director on the board of several fintech companies including StoneCo in Brazil (listed on the Nasdaq) and Network International in Dubai (listed on the London Stock Exchange).

He holds a Bachelor's degree in Economics from the University of Pretoria, a Masters degrees in Economics from Oxford University, a Masters in Economic History from the LSE, and a Masters in Business Law from the University of St. Gallen, as well as an MBA from INSEAD.

The Honorable Sunil Sabharwal, Director

Sunil Sabharwal has spent over two decades as a board member and C-suite executive for global companies like GE Capital, First Data Corporation, the European Bank for Reconstruction and Development (EBRD)  and Coopers and Lybrand. He has also invested in and worked with leading global fintech corporations such as European payment services company Ogone (now part of Ingenico), Paysafe and IRIS Analytics.

Mr. Sabharwal was most recently the Chairman of London-listed Earthport plc, and the Alternate Executive Director and the sole US Board representative to the International Monetary Fund (IMF) from 2016 to 2018. For his service, he received the Distinguished Service Award, one of the U.S. Treasury's highest recognitions.

Mr. Sabharwal holds a Master of Science in Management from the London Business School and a Bachelor of Sciences in Business Administration from Ohio State University.  He was a recipient of OSU's Global Business Excellence Award, which recognized distinguished alumni members.

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