Tunnel
A Next-Gen Cryptocurrency Protocol that's Instant, Feeless, Scalable, Secure, Decentralized & Eco-Friendly w/ Confidential Transactions.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor | €0.0 | round |
| investor | €0.0 | round | |
| investor investor | €0.0 | round | |
| investor | €0.0 | round | |
| N/A | €0.0 | round | |
| N/A | €0.0 | round | |
| N/A | $1.0m | Early VC | |
| Total Funding | 000k | ||
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Tunnel is positioned as a fintech entity aiming to disrupt the cross-currency payments sector. The company has developed a real-time payments platform built on a proprietary distributed ledger technology, for which it has 51 independent patent claims pending. This infrastructure is designed to facilitate instant, 24/7 settlements for both individuals and corporate clients, significantly reducing the friction and costs associated with traditional international money transfers.
The core of Tunnel's offering is a cloud-based software that can be integrated via an application programming interface (API), enabling clients to process payments in any currency. By leveraging its distributed ledger, the company asserts it can provide a more secure and cost-effective alternative to established payment rails, potentially reducing transaction fees to near-zero for all on-network transactions. The platform's value proposition centers on enhancing security, mitigating fraud, and providing significant cost savings on transaction fees for its users.
The company's go-to-market strategy appears to be multi-pronged, initially targeting four primary revenue streams. These include capturing value from foreign exchange (FX) rates on international transactions, introducing a branded debit card, charging fees for instant withdrawals to traditional bank accounts, and providing payment solutions for the e-commerce and retail sectors. Publicly available data indicates the company has secured approximately $1.53 million in funding to date, including capital from an accelerator program. Its strategic direction places it in direct competition with established players in the remittance and money transfer market like Wise and Western Union.
Keywords: cross-currency payments, real-time settlements, distributed ledger technology, international money transfer, fintech, payment platform, API integration, low-cost transactions, secure payments, foreign exchange, B2B payments, payment processing, financial technology, remittance, payment rail, digital wallet