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Announcements

Announcing Revio's $1.1 million Seed round

Revio raises $1.1 million from leading investors to solve the payments failure problem in emerging markets.

The round was led by SpeedInvest, joined by RaliCap Ventures, The Fund, and Two Culture Capital. Several angel investors also participated, including payment and revenue recovery experts from Sequoia, Quona Capital, and Circle Payments.

API payment and collections company Revio today announces $1.1 million seed funding raised from top tier investors.

The funding will be used to launch new products, expand the team, and enter new emerging markets, all contributing to Revio’s mission of reducing payment failures and churn. Its Payments Orchestration, Billing Automation, and Revenue Recovery solutions enable businesses to passively, actively, and proactively recover lost transactions, to increase revenue, optimise cashflow, and increase customer lifetime value.

The round was led by global FinTech investor SpeedInvest, joined by RaliCap, The Fund, and Two Culture Capital. Several angel investors also participated, including payment and collections experts from Sequoia, Quona Capital and Circle Payments. This is Revio’s first institutional funding round since emerging from stealth in March 2021.

“We’re grateful to be supported by some of the world’s best FinTech investors and operators,” said Revio founder and CEO, Ruaan Botha. “We have ambitions to build a global business that helps businesses reduce failed payments and recover revenue they’ve earned.
We know that growing a business is hard, but getting paid shouldn’t be. I’m excited to partner with our investor community to accelerate our growth and the value that we deliver to our customers.”

In Africa, 2-3 out of every 10 payments fail, compared to the 0.7 global average. Reasons for this include the fragmented payments landscape, higher dispute rates, invalid or expired card details, false-positive fraud checks, multiple or dormant accounts, and insufficient funds. This high failure rate results in billions of dollars in lost revenue. In Africa alone, an estimated $14 billion in recurring revenue is uncollected each year, and the continent has a 320% higher churn rate than mature markets.

With digital payments growing at 20%+ year-on-year, this problem will only intensify. While gateways and aggregators have made it easier for businesses to accept multiple payment methods, few solutions exist to deal with payment failures.

“Revio is building a category-leading product to enable businesses to better manage their cash flow and accelerate growth,” said Hayden Simmons, Partner at RaliCap Ventures. “The African payments landscape is fragmented, and we believe they will play a critical role in contributing to the growth of subscription commerce and companies with pan-African scale.”

Today, businesses can integrate with Revio’s API to seamlessly accept and reconcile 20+ payment methods across 25+ African markets, to increase their payment success rates and automate revenue operations. Based on the insight that ‘there’s more to getting paid than accepting payments,’ Revio offers:

  • Smart payment routing and failover to increase payment success rates
  • Configurable auto-retries, dunning rules, and proactive card expiry management
  • Data-driven interactions to recover lost revenue, including secure payment links, self-service billing changes, and options to settle arrears in cash at a nearby retailer
  • Real-time analytics and reporting to optimise recovery processes

Combined with real-time customer segmentation and analysis, these capabilities can help businesses increase their customer lifetime value and direct collections effort toward the customers with the highest return on investment. Through a single integration, businesses can access all these functionalities, simplifying complexity, accelerating speed to market, and increasing revenue and customer lifetime value.

In just one year of trading, Revio has landed 50+ customers and processes thousands of transactions each month. The client base is diverse, spanning large-scale enterprises, mid-market corporates, and fast-growing scale-ups across multiple industries.

The current traction is just the beginning of Revio’s story. Locally grounded but globally relevant, the team aims to be the go-to revenue recovery and growth partner for businesses in all emerging markets.

“Revio’s leadership team has bold ambitions and deep industry experience, which is a powerful combination. They have attracted some of the best talent in the market and are executing at pace. We are excited to be investing at this inflection point in their journey,” said Scott Hartley, Co-founder and Partner at The Fund.
“Having been part of multiple payment orchestration and billing automation platforms across the world, we can see the incredible potential of using this toolset to increase revenue recovery for businesses in a region where three out of ten payments fail. With a team as experienced as Revio's at the helm of tackling this massive opportunity we're convinced that they can fundamentally change the payments landscape for businesses in their target markets and are excited to be backing them on that journey,” said Alvaro Perezcano, FinTech Investor at SpeedInvest.
Revio's leadership team: Stefan Griesel, Nicole Dunn, Pieter Grobbelaar, Kyle Titus, and Ruaan Botha
Announcements

Announcing Revio's $1.1 million Seed round

Revio raises $1.1 million from leading investors to solve the payments failure problem in emerging markets.

The round was led by SpeedInvest, joined by RaliCap Ventures, The Fund, and Two Culture Capital. Several angel investors also participated, including payment and revenue recovery experts from Sequoia, Quona Capital, and Circle Payments.

API payment and collections company Revio today announces $1.1 million seed funding raised from top tier investors.

The funding will be used to launch new products, expand the team, and enter new emerging markets, all contributing to Revio’s mission of reducing payment failures and churn. Its Payments Orchestration, Billing Automation, and Revenue Recovery solutions enable businesses to passively, actively, and proactively recover lost transactions, to increase revenue, optimise cashflow, and increase customer lifetime value.

The round was led by global FinTech investor SpeedInvest, joined by RaliCap, The Fund, and Two Culture Capital. Several angel investors also participated, including payment and collections experts from Sequoia, Quona Capital and Circle Payments. This is Revio’s first institutional funding round since emerging from stealth in March 2021.

“We’re grateful to be supported by some of the world’s best FinTech investors and operators,” said Revio founder and CEO, Ruaan Botha. “We have ambitions to build a global business that helps businesses reduce failed payments and recover revenue they’ve earned.
We know that growing a business is hard, but getting paid shouldn’t be. I’m excited to partner with our investor community to accelerate our growth and the value that we deliver to our customers.”

In Africa, 2-3 out of every 10 payments fail, compared to the 0.7 global average. Reasons for this include the fragmented payments landscape, higher dispute rates, invalid or expired card details, false-positive fraud checks, multiple or dormant accounts, and insufficient funds. This high failure rate results in billions of dollars in lost revenue. In Africa alone, an estimated $14 billion in recurring revenue is uncollected each year, and the continent has a 320% higher churn rate than mature markets.

With digital payments growing at 20%+ year-on-year, this problem will only intensify. While gateways and aggregators have made it easier for businesses to accept multiple payment methods, few solutions exist to deal with payment failures.

“Revio is building a category-leading product to enable businesses to better manage their cash flow and accelerate growth,” said Hayden Simmons, Partner at RaliCap Ventures. “The African payments landscape is fragmented, and we believe they will play a critical role in contributing to the growth of subscription commerce and companies with pan-African scale.”

Today, businesses can integrate with Revio’s API to seamlessly accept and reconcile 20+ payment methods across 25+ African markets, to increase their payment success rates and automate revenue operations. Based on the insight that ‘there’s more to getting paid than accepting payments,’ Revio offers:

  • Smart payment routing and failover to increase payment success rates
  • Configurable auto-retries, dunning rules, and proactive card expiry management
  • Data-driven interactions to recover lost revenue, including secure payment links, self-service billing changes, and options to settle arrears in cash at a nearby retailer
  • Real-time analytics and reporting to optimise recovery processes

Combined with real-time customer segmentation and analysis, these capabilities can help businesses increase their customer lifetime value and direct collections effort toward the customers with the highest return on investment. Through a single integration, businesses can access all these functionalities, simplifying complexity, accelerating speed to market, and increasing revenue and customer lifetime value.

In just one year of trading, Revio has landed 50+ customers and processes thousands of transactions each month. The client base is diverse, spanning large-scale enterprises, mid-market corporates, and fast-growing scale-ups across multiple industries.

The current traction is just the beginning of Revio’s story. Locally grounded but globally relevant, the team aims to be the go-to revenue recovery and growth partner for businesses in all emerging markets.

“Revio’s leadership team has bold ambitions and deep industry experience, which is a powerful combination. They have attracted some of the best talent in the market and are executing at pace. We are excited to be investing at this inflection point in their journey,” said Scott Hartley, Co-founder and Partner at The Fund.
“Having been part of multiple payment orchestration and billing automation platforms across the world, we can see the incredible potential of using this toolset to increase revenue recovery for businesses in a region where three out of ten payments fail. With a team as experienced as Revio's at the helm of tackling this massive opportunity we're convinced that they can fundamentally change the payments landscape for businesses in their target markets and are excited to be backing them on that journey,” said Alvaro Perezcano, FinTech Investor at SpeedInvest.
Revio's leadership team: Stefan Griesel, Nicole Dunn, Pieter Grobbelaar, Kyle Titus, and Ruaan Botha
Blogs

Faster growth, less risk

5 ways to increase payment success rates

Globally, card payments fail 10-15% of the time. In emerging markets, this failure rate is much higher – ranging as high as 40%. Payment failures not only result in immediate lost revenue, but can impact future sales, with 62% of customers opting not to return to a website after experiencing a failed payment. In this article, we highlight 5 tried-and-tested ways that business can increase payment success rates. 

Payment Orchestration: The next wave of payment innovation in emerging markets

In emerging markets, the payments ecosystem is particularly fragmented, with multiple payment methods operating independently. By consolidating payment processing and management, payment orchestration can help businesses to increase acceptance rates, improve operational efficiency, and enhance user experience – taking the pain out of getting paid. 

Featured Feature: Debit Order API

In Southern Africa, debit orders are still the primary method for collecting recurring revenue. However, the payment method is complex and costly to implement, and can be risky to manage at scale. Find out how Revio's Debit Order API simplifies this complexity, making debit order accessible and scalable to businesses of all sizes.

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