Bitcoin Lightning startup TMRW raises $1.3 million in funding

Miami-based Bitcoin startup TMRW has raised $1.3 million in pre-seed funding to develop its social payments app powered by the Bitcoin Lightning Network. Maple VC led the funding round, and Bitcoin angel investors like Brad Mills joined the round.

TMRW aims to leverage the speed and low costs of the Lightning network to enable cross-border peer-to-peer payments through Lightspark and ZeroHash. The app uses Universal Money Addresses, an open payment standard built on Lightning, to instantly send fiat and Bitcoin across borders.

This enables TMRW to facilitate fast and affordable remittances to regions such as the Caribbean, where traditional providers charge high fees. Remittances are a major use case for Bitcoin and Lightning because they offer significant cost savings compared to legacy funding.

TMRW co-founder Alexandra Lutchman said the app shows how Bitcoin can unlock borderless payments for family and friends around the world. The startup wants to illustrate the everyday utility of Bitcoin and make payments social.

The app includes features like adding messages, emojis and images to payments. TMRW also helps onboard new users, allowing them to earn Bitcoin rewards and see how their contacts are using Bitcoin.

TMRW is running pilot programs in the Caribbean and has opened its iOS beta to US users. The funding will help expand into the US market and make Bitcoin and fiat transfers available globally.

Bitcoin Lightning has seen increasing adoption for cross-border remittances and transfers as it offers significant cost savings compared to traditional providers. Remittances are a major early use case for Bitcoin and Lightning, making it cheaper and faster to send money abroad.