South Africa: Revio raises $1.1m to reduce payment failures in emerging markets
API payment and collections company Revio has raised $1.1 million in seed funding from investors including SpeedInvest, RaliCap Ventures, The Fund and Two Culture Capital.
Several angel investors also participated in the round, including payment and revenue recovery experts from Sequoia, Quona Capital and Circle Payments.
The funding will be used to launch new products, expand the team, and enter new emerging markets.
Revio’s Payment Orchestration, Billing Automation, and Revenue Recovery solutions enable businesses to recover lost transactions in order to increase revenue, optimise cashflow, and increase customer lifetime value.
The company is based in South Africa and aims to help businesses in emerging markets, where payment failures are more common, recover lost revenue and reduce churn rates.