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South African Payment Orchestration Platform Revio Raises $5.2M in Seed Funding
Revio is combining payment infrastructure, data, and automated workflows to power inclusive commerce in Africa
Revio, a South African based fintech startup, is making strides in the fragmented payment landscape of Africa. The company, led by co-founders Ruaan Botha, CEO, and Nicole Dunn, COO, are addressing the challenges posed by numerous payment options and providers in the African market. With digital payments in Africa projected to reach $146 billion in 2023, Revio is tapping into this growing sector by offering payment orchestration services. Their platform streamlines the order-to-cash lifecycle, providing merchants access to over 70 payment methods and service providers, reducing payment failures caused by factors such as invalid cards and inactive accounts. Additionally, Revio recently introduced a revenue recovery feature to re-engage customers in the checkout process, further increasing payment success rates.
Revio secured $5.2 million in seed funding in its latest round, with investors including QED and Partech. Revio's focus on serving large-scale enterprises with complex payment needs, including major insurers and telecom companies, has driven its impressive growth, with a revenue increase of 1,000% in the past year. The company's future plans involve targeting global retailers servicing the African market and expanding its team and technological capabilities to better serve its clients and further unlock e-commerce and digital payment activities on the continent.
Read more in TechCrunch.