All-in-one payments platform for digital economies Tilia LLC has announced additional financing and appointments of new CEO Brad Oberwager and Catherine Porter as the company’s first chief business officer.
In supporting its continued expansion, the company has also raised $22 million in strategic funding with Seoul-based fintech leader Dunamu now joining existing investor J.P. Morgan.
The investment will help the company further scale its platform and address the growing market need for trusted, dynamic payments in online games, creator platforms, social commerce and other digital social worlds.
New additions to the executive team
Oberwager, a seasoned entrepreneur with a successful track record founding and leading multiple technology and consumer-focused companies is now CEO, while Porter, who brings over two decades of experience leading strategy, marketing, and business development for both consumer and enterprise technology companies will act as chief business officer.
“Today’s payments infrastructure was built for traditional commerce – it hasn’t caught up with the new way of living and working in a digital, creator-driven economy,” said Oberwager. “As I take the helm at Tilia, my focus will be on providing a payments system that enables these expanding digital economies.”
“I’ve seen firsthand how difficult it is to build payments networks, even at the biggest global tech companies,” said Porter. “I joined Tilia because it has the track record, the technology, and the regulatory expertise necessary to create a trusted and safe financial system for every online economy, and we have only scratched the surface of what’s possible.”
The growing digital economy
The new funding comes amidst growing demand for Tilia’s payments engine, which is designed to adapt to the needs of any digital economy and unlock new forms of monetisation for creator and social-driven platforms.
Tilia is looking to expand and solidify UGC creator payments, allowing direct payouts to creators and their collaborators where profit distribution becomes easy and efficient.
The company is also working on minting and managing virtual tokens since its branded tokens are US compliant and have a fixed conversion rate to fiat currency. This will allow users and creators to buy and sell digital goods and services.
And in securing transactions, Tilia’s platform bridges the digital and physical worlds, enabling KYC-compliant transactions while allowing users to operate under their online identities and avatars. This approach enables thousands of trusted transactions every day while protecting user identity.