South African API payment and collections startup, Revio has raised $1.1 million in seed funding to launch new products, expand its team, and enter into new markets.
- Revio was founded by Ruaan Botha in 2020 to serve growing or scaling e-commerce and subscription-based businesses. The fintech makes it easy for businesses across Africa to connect to multiple payment methods and manage payment failures.
- The platform collects and settles payments in more than 40 markets through payment providers like Flutterwave, Paystack, Ozow and Stitch. Some of its features, in addition to multiple payment methods, include smart payment routing, automated billing processes, auto-retires, and real-time analytics and reporting.
- In over a year of operations, Revio has onboarded over 50 clients and processes thousands of transactions monthly.
- They range from large-scale enterprises to mid-market corporates, and fast-growing scale-ups that are involved with recurring revenue businesses and high transactional volumes, typically needing multiple payment methods in multiple markets
- The round was led by SpeedInvest, alongside RaliCap Ventures, The Fund and Two Culture Capital and several other angel investors.
- The funding will enable the two-year-old startup move into new emerging markets within and outside Africa, expand its team in the process and launch new products for its increasing clientele.