SA fintech Revio secured $1.1 M to introduce new products, enter new markets
Revio, a South African FinTech company that supports software-as-a-service (SaaS) enterprises with a subscription billing and payments platform, has acquired US $1.1 million in initial investment to introduce new products, grow its staff, and penetrate new markets.
Revio is a SaaS firm that drives expanding or extending e-commerce and subscription-based companies. It was formed in 2019 by venture builder The Delta and a private investor. In its most basic version, Revio offers automated recurring billing, easy reconciliation, electronic invoice delivery, and acceptance of any payment method.
Revio has secured US $1.1 million in seed fundraising. SpeedInvest served as the round’s leader, and RaliCap Ventures, The Fund, and Two Culture Capital also participated. Along with other angel investors, the event included payment and revenue recovery specialists from Sequoia Capital, Quona Capital, and CirclePayments.
In order to further Revio’s goal of lowering payment failures and churn, the funding will be used to launch new products, grow the team, and enter new emerging markets. Its solutions for revenue recovery, billing automation, and payments orchestration help companies passively, actively, and proactively recover lost transactions, boost sales, improve cash flow, and lengthen average customer retention.
“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 the 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 is developing a market-leading product to help companies manage their cash flow more effectively and grow faster, according to Hayden Simmons, a partner at RaliCap Ventures.
“The African payments landscape is fragmented, and we believe they will play a critical role in contributing to the growth of subscription commerce and companies with pan-African scale,” he said.
Revio has processed thousands of transactions each month and acquired more than 50 clients in its first year of business. The clientele is varied and includes huge corporations, mid-market corporates, and quickly expanding scale-ups from various industries.
“Revio’s leadership team has bold ambitions and deep industry experience, which is a powerful combination. They have attracted some of the best talents in the market and are executing at pace. We are excited to be investing at this inflection point in their journey,” said Scott Hartley, co-founder, and partner at The Fund.
