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Startup Company Revio In South Africa, Raises $1.1 Million In Preliminary Funding

Revio

Revio, an API payment and collections startup based in South Africa, has successfully raised $1.1 million in early funding from some of the most prominent investors in the world in order to find a solution to the issue of payment failure in emerging countries.

The funding round was spearheaded by SpeedInvest, with participation from RaliCap Ventures, The Fund, and Two Culture Capital. A number of angel investors took part in the venture as well, and among them were payment and revenue recovery specialists from Sequoia, Quona Capital, and Circle Payments.

In comparison to the global average of 0.7 failed payments per 100, the failure rate for payments in Africa is between 2-2 of every 10. The fragmented payments environment, greater dispute rates, inaccurate or expired card data, false-positive fraud checks, multiple or dormant accounts, inadequate cash, and insufficient balances are some of the reasons why this is the case.

The resulting revenue loss amounts to billions of dollars due to the high failure rate. It is projected that $14 billion in recurring income is not collected annually in Africa alone, and the region has a churn rate that is 320% greater than that of developed markets.

The fact that the volume of digital payments is increasing at a rate of more than 20% annually will only serve to exacerbate this issue. In spite of the fact that gateways and aggregators have made it simpler for companies to accept a variety of payment methods, there are still very few options available for dealing with failed payments. Revio, a South African application programming interface (API) financial technology firm that is working on a solution to this challenge has announced today that it has acquired $1.1 million in seed funding from top-tier investors.

Revio’s aim is to reduce payment failures and churn, and the financing will be used to develop new products, expand the team, and penetrate new emerging markets. All of these will contribute to Revio’s mission.

Its Payments Orchestration, Billing Automation, and Revenue Recovery solutions make it possible for organizations to recover lost transactions in a passive, active, or proactive manner, thereby increasing revenue, optimizing cash flow, and expanding the lifetime value of their customers.

RaliCap, The Fund, and Two Culture Capital joined in on the funding, which was spearheaded by the global FinTech investor SpeedInvest. Several angel investors took part in the venture as well; among them were payment and collections specialists from Sequoia, Quona Capital, and Circle Payments. Since coming out of stealth mode in March 2021, Revio is conducting its very first institutional investment round.

Ruaan Botha, the founder and CEO of Revio, stated that the company was thankful for the support it received from some of the greatest FinTech investors and operators in the world. “We have aspirations to establish a global business that assists companies in minimizing the number of unsuccessful payments and recouping the revenue they’ve rightfully earned.

We are aware that expanding a business can be challenging, but being rewarded for one’s work shouldn’t be. I’m very looking forward to working with our investment community to drive both our company’s growth and the value that we bring to our consumers.

According to Hayden Simmons, a Partner at RaliCap Ventures, “Revio is building a category-leading product to enable businesses to better manage their cash flow and accelerate growth.” Revio’s product is aimed at helping firms “accelerate growth and better manage their cash flow.” “The payments landscape in Africa is fragmented, and we believe that they will play a crucial role in assisting to the expansion of subscription commerce and enterprises with pan-African reach,”

Revio has more than 50 customers after only one year of commercial operation since it emerged from stealth mode in 2021. Each month, Revio handles thousands of transactions. The customer base is quite varied, encompassing a wide range of businesses, including large-scale corporations, mid-market businesses, and scale-ups that are experiencing rapid expansion.

The leadership team of Revio possesses both ambitious goals and extensive industry experience, which is a potent combination. They are moving forward at a rapid speed and have attracted some of the most talented individuals in the market. According to Scott Hartley, Co-founder and Partner of The Fund, “We could not be more delighted to make an investment at this pivotal juncture in their development.

“Having been a part of multiple payment orchestration and billing automation platforms across the world, we are able to see the incredible potential of using this toolset to increase revenue recovery for businesses in a region where three out of ten payments fail. This is something we can see because we have been a part of multiple platforms across the world.

“With a team as experienced as Revio’s at the helm of tackling this massive opportunity, we’re convinced that they can fundamentally change the payments landscape for businesses in their target markets, and we’re excited to be backing them on that journey,” said Alvaro Perezcano, FinTech Investor at SpeedInvest. “We’re excited to be backing them on that journey.” [Citation needed] “We’re convinced that they can fundamentally change the payments landscape for businesses in their target markets.

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