Afrigather Revio, a South African fee API startup, has raised a $5.2 million seed spherical to deepen its market throughout the continent.
Revio, a South African fee API startup serving to retailers optimize their order to money lifecycle, has introduced a $5.2 million seed funding. That is the startup’s newest spherical of funding after raising a $1.1 million seed
spherical in 2022.
Revio will use the capital to deepen its progress throughout the continent and purchase new prospects. The corporate may also be hiring abilities to help its progress. The funding spherical was led by QED Buyers and Partech. Speedinvest, RaliCap, and In all places VC, Revio’s earlier buyers additionally participated within the spherical.
Revio is taking its place within the African digital fee market—projected to succeed in $146 billion in 2023—by offering companies with an API for funds assortment. Revio’s API permits companies to just accept and reconcile greater than 70 fee strategies. These embody: the main cellular cash merchandise, card schemes, direct financial institution funds and wallets in 25 nations in African markets. The corporate additionally helps world and native retailers optimize their end-to-end fee processes, by options akin to clever transaction routing, automated failover and retries, and real-time buyer engagement workflows.
Ruaan Botha, Co-founder and CEO of Revio whereas talking on the increase, stated “We’re grateful for the help of main world and native buyers, particularly these as well-regarded as QED and Partech. With this funding, we’re excited to double down and unlock new adjoining alternatives for worth creation for our rising base of shoppers,”
The corporate now counts 4 of Africa’s largest insurers and two largest telcos as shoppers, and has secured a strategic partnership with a tier 1 African financial institution to supply distribution to its base of enterprise and mid-size shoppers.
