Revio, a Cape Town, South Africa-based API payment and collections company, raised $1.1 million in seed funding to solve payment failures in emerging markets.
The round was led by SpeedInvest, with participation from Ralicap, The Fund, Two Culture Capital, and strategic angel investors from Sequoia Capital, Quona Capital, and Circle Payments.
The funding will be used to launch new products, expand the team, and enter new emerging markets, all contributing to Revio’s mission of reducing payment failures and churn.
“We’re grateful to be supported by some of the world’s best FinTech investors and operators,” said Revio founder and CEO, Ruaan Botha. “We have ambitions to build a global business that helps businesses reduce failed payments and recover revenue they’ve earned. We know that growing a business is hard, but getting paid shouldn’t be. I’m excited to partner with our investor community to accelerate our growth and the value that we deliver to our customers.”
Revio’s API allows businesses to accept and reconcile more than 20 payment methods across 25 countries in African markets.
Round: Seed Round
Funding Month: November 2022
Lead Investors: SpeedInvest
Additional Investors: Ralicap, The Fund, Two Culture Capital, and strategic angel investors from Sequoia Capital, Quona Capital, and Circle Payments
Company Website: https://www.reviopay.com/
Software Category: API Payment and Collections
About the Company: Founded in 2020, Revio is a SaaS company that helps businesses reduce revenue losses through failed payments and customer churn. Its Payments Orchestration, Billing Automation, and Revenue Recovery solutions enable businesses to passively, actively, and proactively recover lost transactions, increase revenue, optimize cash flow, and increase customer lifetime value. Revio also offers its clients full visibility with real-time customer segmentation and analytics dashboards to allow them to monitor direct collection efforts and increase customer lifetime value. In just one year of trading, Revio has landed more than 50 customers and processes thousands of transactions each month. The client base is diverse, spanning large-scale enterprises, mid-market corporates, and fast-growing scale-ups across multiple industries.