Revio, a South Africa-based payment API startup that helps merchants optimize their order-to-cash lifecycle, secured a $5.2 million seed investment.
The funding round was led by QED Investors and Partech, with participation from Speedinvest, RaliCap, and Everywhere VC, among others.
Founded in 2007, QED Investors is a venture capital firm based in Alexandria, Virginia. The firm seeks to invest in early-stage companies operating in the financial services, and financial technology sectors across the United States, United Kingdom, and Latin America.
Partech is a venture capital firm that prefers to invest in companies operating in technology, software, digital brands, services to hardware, businesses for enterprises and consumers, and deep technology sectors at all stages based in Europe, North America, Africa, and Asia. Founded in 1982 and is based in Paris, Prance.
Revio Use of Funds
The company plans to use the funds to accelerate its growth in the African market and acquire new customers.
Founded in 2020, Revio is an Africa-focused payment orchestration platform that minimizes the complexity, cost, and risk of payment operations to help merchants reach and retain more customers. Revio's platform offers businesses an API for payment collection, enabling them to accept and reconcile more than 70 payment methods, including mobile money products, card schemes, direct bank payments, and wallets in 25 African countries. The startup also assists global and local merchants in optimizing their end-to-end payment processes by providing features like intelligent transaction routing, automated failover and retries, and real-time customer engagement workflows.
Revio has established partnerships with four of Africa's largest insurers, two of the largest telcos, and a tier 1 African bank to offer distribution to its base of enterprise and mid-size clients.
Company: Revio Pay Inc.
Round: Seed Round
Funding Month: September 2023
Lead Investors: QED Investors and Partech
Additional Investors: Speedinvest, RaliCap, and Everywhere VC
Company Website: https://www.reviopay.com/
Software Category: Payment Orchestration Platform