tiun, a Zurich-based fintech startup focused on helping media providers attract, engage, and convert younger audiences, has announced a €2.5 million pre-seed funding round to advance its innovative approach to media payments.
The funding round was led by Swiss VC firm Founderful, with participation from Blue Wire Capital, a16z scout Maximilian Lehmann, and several other angel investors. The newly raised capital will support tiun’s mission to become Europe’s go-to payment solution for online media, particularly targeting younger audiences.
tiun Co-founder Nikolaos Christoforakos explains, “There’s a clear disconnect between the modern way we expect to consume media and how media is bought and paid for today. The subscription model was invented to bring convenience to consumers, preventing them from having to pay for every item they wanted to consume. This worked too for the media providers, who got consumer loyalty in return – so the model grew exponentially. That same experience can, in today’s world, often be a hindrance for a young user to convert and become a loyal customer. tiun intends to build that bridge by working closely with media businesses in a way which will significantly benefit both consumers and media businesses.”
tiun, founded in early 2023 by Nikolaos Christoforakos, Christian Heiduschke, and Sandro Zweig, emerged from the trio’s frustration with intrusive paywalls. They envisioned a more user-friendly solution for media payments that eliminates the need for repeatedly sharing personal data.
The team prioritizes new business partnerships and integrations with third-party payment methods like digital wallets. These integrations aim to give media platforms access to previously untapped audiences while enabling new users to access and pay for media by “tiuning in”. This approach promises greater convenience, enhanced flexibility, and improved user security.
tiun argues that the traditional process of registering and subscribing is no longer convenient for younger users. The company aims to provide media companies with easy-to-integrate solutions that offer new authentication and payment methods, enhancing user experiences. This idea could attract millions of users and boost customer spending and engagement.
tiun’s platform can track user activity and end a session if there is no movement for a set period, helping to prevent overspending. To encourage adoption, tiun limits the charges for users to no more than 20% of the monthly subscription cost. Once this limit is reached, the remainder of the month is free. The platform gathers data and insights to help media companies fine-tune their strategies to maximize engagement.
Pascal Mathis, Partner at Founderful, says, “The internet has become the dominant way by which people consume media. Be it television, printed media, the radio, or physical CDs, one by one the internet has triumphed by facilitating a smoother, simplified user experience. The one area online media has failed to address, however, is effective monetization, deterring users with inconvenient and fragmented methods. tiun removes these hurdles, creating seamless connections between consumers and providers. We’re thrilled to support the team in solving this challenge at such an early stage.”
Bertie Highmore, Head of Investments at Blue Wire Capital, says, “The tiun team has extensive experience in – and demonstrated ability for – building, launching and scaling digital platforms. Strong appetite has already been shown for their product, which solves one of the biggest emerging issues in online media. We’re excited to be on board and are looking forward to what will be a huge next twelve months for them.”
tiun enters the market at a challenging time for the news media industry, facing significant revenue shortages and widespread layoffs. Press Gazette estimates that 2,500 media jobs have been cut in the US and UK alone this year. The tiun team sees significant potential for their solution across various media types, including streaming, gaming, and written news. The company has already partnered with over 50 media titles across Central Europe.
