BOSTON--(BUSINESS WIRE)--Tunnel a FinTech startup delivering a unique distributed ledger technology (DLT) and payment network, previously closed a seed round of funding lead by prominent angel investment firm Boston Harbor Angels with Colony Hills Capital, EQX Fund, Wilmington Investor Network and Tomahawk Group all participating. Ziad Moukheiber, CEO of Boston Harbor Angels, led the investment round and recently joined the Board of Directors at Tunnel. He joins Tunnel’s CEO Frank Makrides and COO Neil Ratna.
As a startup in Boston’s FinTech scene, Tunnel is modernizing the several decades old payment infrastructure used by banks, financial institutions, businesses and consumers. Tunnel brings to market a very disruptive technology focused on providing a next generation real-time, scalable and secure payments on the cloud powered by a patent-pending DLT engine. Tunnel provides seamless integration with open APIs allowing businesses to facilitate B2B, B2C and P2P payments all while keeping their current user experience intact through application integration or white label offerings. For the first time a business can receive a payment in real-time, at ultra-low cost and with confidence.
By taking on traditional business payment transaction fee based models Tunnel can open the door for microtransactions as small as a penny to very large ($1M+) secure value transfers. This opportunity opens Tunnel to trillions in potential value transfer in need of a solution.
About Tunnel
Boston-based Tunnel’s mission is to modernize
the payments technology infrastructure as well as the business model of
the the global payments ecosystem. Tunnel is a Boston-based FinTech
startup pioneering a uniquely designed, distributed ledger technology
(DLT) with solutions for scalable real-time payments, identity,
directory and APIs. Tunnel is a permissioned network for banks and
businesses. Tunnel helps the bottom line of businesses, brings advanced
security, reduces fraud, and can scale to the needs of businesses and
consumers. Tunnel offers seamless integration to existing business
applications with a turnkey cloud-based solution.
For more information, visit www.tunnel.money