Revio adds FinTech executive Munya Chiura to advisory board to accelerate African expansion
Chiura has more than 25 years of experience building and scaling technology-enabled business on the African continent. He is currently the Head of Africa Business Development for MPOWER Financing, the leading provider of global education loans. Previously, Chiura served as Head of Growth for Rest of Africa at Flutterwave, where he played a crucial role in scaling the payment unicorn into new markets. His former roles include Head of Middle East and Africa for NASDAQ-listed Flywire, a global payments enablement and software company, where Chiura built a deep understanding of local payment cultures.
Revio is a unified payment operations and revenue optimization platform focused on emerging markets. Founded in 2020, the company enables businesses to seamlessly offer new payment methods, reduce failed payments, and dynamically engage customers to collect arrears. The platform is powered by rich analytics and payment behavior data, to optimize conversion and collection success rates.
“The next wave of payment innovation in Africa will be further accelerated by continued innovation towards digitisation, accessibility, and interoperability,” shared Chiura. “Payment gateways have set the foundation for digital payment acceptance, but fragmentation and a lack of interoperability hinder adoption.”
Africa’s digital payment transactions are growing 16% year-on-year, projected to reach $146 billion in 2023. However, there are 275+ PSPs in Africa, with few universal and interoperable payment methods. This creates significant integration complexity and operational effort for businesses of all sizes. Revio seeks to address this challenge through a single API pre-integrated with 30+ payment methods, with the ability to selectively route and expose methods based on success rates and local adoption.
“Revio is targeting a key barrier to growth for businesses in Africa,” shared Chiura. “The growing complexity of payments is compounded by the high rates of payment failure, often resulting from customer-related issues. Through leveraging alternative payment methods and customer data, Revio contributes to digital enablement across the continent.”
Nicole Dunn, COO of Revio shared, “We’re excited to work with Munya to scale our business into new African markets. We are increasingly bullish about our platform’s ability to enable local and multinational companies to collect more revenue in Africa. Munya’s experience will be instrumental to enabling our expansion roadmap, ensuring we localize to the nuances of each market.”