tiun, a Zurich-based fintech serving to media suppliers to draw, interact and convert youthful audiences, is at present asserting a €2.5 million pre-seed funding spherical to develop its streamlined strategy to paying for media.
Swiss VC agency Founderful led the spherical, which additionally included Blue Wire Capital and a16z scout Maximilian Lehmann, amongst different angel traders.
The funds will kick-start their purpose to turn into Europe’s most popular approach to pay for on-line media, particularly amongst youthful audiences.
tiun Co-founder Nikolaos Christoforakos explains, “There’s a transparent disconnect between the fashionable approach we anticipate to devour media and the way media is purchased and paid for at present. The subscription mannequin was invented to deliver comfort to customers, stopping them from having to pay for each merchandise they wished to devour. This labored too for the media suppliers, who acquired client loyalty in return – so the mannequin grew exponentially. That very same expertise can in at present’s world typically be a hindrance for a younger consumer to transform and turn into a loyal buyer. tiun intends to construct that bridge by working carefully with media companies, in a approach which is able to considerably profit each customers and media companies.”
tiun was based in early 2023 by the co-founder trio Nikolaos Christoforakos, Christian Heiduschke and Sandro Zweig.
Born out of a shared frustration at being hit with paywalls, the workforce agreed there should be another, extra user-friendly approach of charging for media, which doesn’t require the repetitive surrendering of private information.
Specifically, the tiun workforce is concentrated on onboarding new enterprise partnerships and integrations with third-party fee strategies i.e. digital wallets. These will concurrently present media platforms with publicity to reportedly untapped audiences whereas additionally permitting a brand new era of customers to entry and pay for media by ‘tiuning in’, providing extra comfort and suppleness whereas being safer.
In line with tiun, the tedious technique of registering and subscribing isn’t thought-about handy anymore for younger customers. tiun in return seeks to supply media corporations easy-to-integrate options that permit a brand new technique of authentication and fee to offer consumer experiences that drive hundreds of thousands of customers, and doubtlessly improve buyer spending and engagement.
The tiun workforce sees huge potential within the answer in all types of media past written information, together with streaming, and gaming. The corporate has reportedly already onboarded 50+ media titles throughout Central Europe.
The tiun infrastructure can observe exercise and finish the session if there isn’t any motion after a given time, stopping customers from overspending. To incentivize uptake, tiun limits the quantity media suppliers can cost customers to a most of 20% of what a month-to-month subscription would price. As soon as these limits are reached, the rest of the month is free. The info and insights gathered by the platform can be utilized to tell media methods to make sure media is as partaking as attainable.
tiun enters the market at a turbulent time for the information media trade. An absence of income is inflicting vital layoffs all through the trade. Estimates by the Press Gazette counsel that 2,500 media jobs have been lower within the US and UK this yr alone.
Pascal Mathis, Companion at Founderful, says, “The web has turn into the dominant approach by which individuals devour media. Be it tv, printed media, the radio, or bodily CDs, one after the other the web has triumphed by facilitating a smoother, simplified consumer expertise. The one space on-line media has failed to handle, nevertheless, is efficient monetization, deterring customers with inconvenient and fragmented strategies. Tiun removes these hurdles, creating seamless connections between customers and suppliers. We’re thrilled to help the workforce in fixing this problem at such an early stage.”
Bertie Highmore, Head of Investments at Blue Wire Capital says, “The tiun workforce have in depth expertise in – and demonstrated capacity for – constructing, launching and scaling digital platforms. Robust urge for food has already been proven for his or her product, which solves one of many greatest rising points in on-line media. We’re excited to be on board, and are trying ahead to what can be an enormous subsequent twelve months for them.”
