Revio, a South African API payment and collections startup, has raised $1.1 million in seed funding to launch new products, grow its team, and enter new markets.
Ruaan Botha started Revio in 2020 to help e-commerce and subscription-based businesses grow or scale.
Businesses in Africa can easily connect to multiple payment methods and handle payment failures with the help of this fintech.
Payment providers like Flutterwave, Paystack, Ozow, and Stitchwork with the platform to accept and settle payments in more than 40 markets.
Along with multiple ways to pay, it has smart payment routing, automated billing processes, auto-retirements, and real-time analytics and reporting.
Revio has been running for more than a year and has more than 50 clients. Each month, it handles thousands of transactions.
They include large enterprises, mid-market corporations, and fast-growing scale-ups that deal with recurring revenue and high transaction volumes and usually need more than one way to pay in more than one market.
SpeedInvest, RaliCap Ventures, The Fund, Two Culture Capital, and other angel investors led the round.
With the funds, the two-year-old startup will be able to move into new emerging markets in and outside of Africa, grow its team, and launch new products for its growing customer base