Clinkle, a Silicon Valley startup that hopes to shake up the payment industry, has $25 million in its bank account thanks a new seed round of funding.

According to a blog post from company founder and CEO Lucas Duplan announcing the funding, the seed round included a veritable who's-who of venture and payment luminaries including Accel Partners, Andreessen Horowitz, Intel Capital, Intuit Inc. and PayPal founder Peter Thiel.

The announcement of the funding is a bit light on specifics, only promising that Clinkle will introduce something "fundamentally different" to payments — an industry Duplan claims has "stood idle during the invention of the PC, the Internet and the smartphone."

"Most people around the world still rely on the same technology humans used centuries ago: paper and coins," Duplan said in his post.

The impetus for Clinkle came from an overseas travel experience where Duplan found himself without cash or card and unable to find a way to buy a sandwich using his phone.

"There are close to 1 million apps in the Apple App Store. Yet, none let you comfortably go a week or even a couple of days without paper bills or plastic cards," Duplan said.

In his blog post, Duplan, who only recently graduated from Stanford, hinted that Clinkle's product will launch later this year and will be geared toward college students.

Read more about mobile/digital wallets.