GAMER FOCUSED PAYMENTS PLATFORM TIV LAUNCHES FROM STEALTH WITH $3.5M SEED ROUND

Tiv, the new payments platform dedicated to the gaming community, has launched out of stealth mode and closed a $3.5M USD seed round. 

The round was led by 4490 Ventures, and also attracted participation from Silverton Partners and “multiple prolific angel investors.” The funding represents the first institutional capital raised after self-funding the company since inception.

According to the Chicago-based company, it will leverage the seed capital to scale its engineering and marketing teams as it builds out its platform. Tiv is currently accepting waitlist users for its debut card product ahead of a public launch slated for late 2021. 

Tiv’s financial platform is built with the gaming community at its core, empowering gamers by making the time they spend doing what they love more valuable. Through proprietary technology, including machine learning capabilities, Tiv rewards gamers when they pay and when they play, making it the first and only payments product that gives its users rewards for both purchases and gaming activity.

Tiv CEO and Co-Founder, Jed Strong, explained: “We wanted to create a payments platform and offer card products that rewarded gamers based on their passion, not just how they spend. Tiv represents a fundamental shift, unlocking the power of gameplay to connect and enhance the digital and physical worlds of gamers. The entire gaming community can now reap the rewards of a fintech infrastructure purpose-built from the ground up for gamers.”

President, Chief Product Officer and Co-Founder of Tiv, JP Pillat, added: “Historically, gamers have always been told that gaming is a waste of their time. As a lifelong gamer and longtime gaming creator, I experienced this first hand. Tiv’s mission is to change that, encouraging gamers to pursue their passion and making their gaming experience more rewarding in the process. We’re proud to build a product that enhances gamer’s lives and are thrilled to have our vision supported by our investors as well as one of the biggest brands in payments.”

Malcolm Thorne, Partner at 4490 Ventures, commented: “Tiv fits in perfectly with our connected software investment theme. The diversification of Tiv’s business model for both gamers and the broader gaming industry sets them apart from legacy financial institutions and neobanks. We are excited about the technology and the team and believe they have a head start to create the world’s leading payments platform for gamers.”

AYO.NEWS says:

With legacy banks and financial providers still seemingly stuck in the 20th century (or, if you’re here in Malta, in the 19th century), there’s quite obviously a real need for new, efficient and user-friendly solutions, so it’s fantastic to see platforms like Tiv and Zytara trying to shake things up.