Tiun Secures Capital of 2.5 Million Euros

(CONNECT) tiun AG has received pre-seed financing in the amount of EUR 2.5 million. It was led by the Zurich-based venture capital firm Founderful. According to a statement from Venturelab, investors Blue Wire Capital from London and Maximilian Lehmann from Andreessen Horowitz(a16z), based in Menlo Park, California, have also invested in the company. Tiun had taken part in the Venture Leaders Fintech investor roadshow organized by Venturelab in London in 2023.

The high-caliber round of investors in this first phase of a start-up's capital procurement, which is usually between 25,000 and 100,000 euros from family, friends and business angels, is an indication of the high market potential that tiun's solution has. According to tiun, the company, which was founded in early 2023, was "born out of frustration with traditional payment barriers". That is why tiun has set itself the goal of redesigning access to online media, especially for younger target groups. User-friendly payment options should simplify this and minimize the request for personal data.

According to the information provided, tiun is focusing on partnerships with media providers and the integration of digital wallets. The system is designed to eliminate the need for complex registrations and cap usage costs at monthly fees of 20 percent of typical subscription costs.

tiun's portfolio now includes 50 Central European media. In addition to news, the platform's potential also extends to streaming and gaming. "The launch of Tiun comes amid financial difficulties for the news media sector," the press release states. "The 2,500 jobs that will be cut in the media sector in the US and UK in 2024 highlight the need for innovative revenue solutions." ce/mm