Led by SpeedInvest among others, Revio—a payment API company in Cape Town, South Africa; currently raised $1.1m in an oversubscribed seed funding round to solve payment failures in emerging markets.
Since founded in 2020, this happens to be Revio’s first institutional funding. And according to the Cape Town-based company, the investment will help in the launching of new products and team expansion in order to penetrate into new markets.
Having been part of multiple payment orchestration and billing automation platforms across the world, we can see the incredible potential of using this toolset to increase revenue recovery for businesses in a region where three out of ten payments fail. 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 are excited to be backing them on that journey – Alvaro Perezcano, FinTech Investor at SpeedInvest
Revio business model is designed to help businesses reduce revenue losses through failed payments and customer churn providing solutions to Africa’s fragmented payments landscape, invalid or expired card details, higher dispute rates, insufficient funds, and false-positive fraud checks which cause up to 30% of digital payments failure in the continent.
The payment API company offers three main products—Payment Orchestration, Billing Automation, and Smart Collections; as well as allowing businesses to offer multiple payment options.
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By Elijah Christopher