Miami-based startup Tmrw, founded by the former Knox Custody team, has raised $1.8 million CAD in pre-seed funding to develop a social payment app that uses Bitcoin for cross-border transactions. The company aims to provide a faster and cheaper alternative to traditional remittance services like Western Union, initially focusing on the Caribbean market.
Tmrw’s platform, built on the Bitcoin Lightning Network, will allow users in the United States to send money to family and friends in the Caribbean and Central and South America. Recipients can withdraw funds in cash, even without a bank account. The platform also integrates social features, enabling users to add messages, images, and GIFs to their payments.
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Overcoming Funding Challenges
The pre-seed round, closed in June, marks Tmrw’s first external funding and was led by Maple VC, with contributions from Bitcoin entrepreneur Brad Mills and other angel investors. The funds will be used to refine Tmrw’s product and prepare for its broader launch, starting with the Caribbean before expanding into Latin America.
Founders with a Vision
The startup was co-founded by Ari Ramdial and Alexandra Lutchman, both of whom have a background in crypto through their previous venture, Knox Custody. With their deep understanding of the market and the challenges faced by consumers in dual-currency regions, Tmrw’s founders are well-positioned to make a significant impact in the global remittance space. The app is currently in private beta in the Caribbean and is expected to launch in the US soon.
