We're very proud to announce the raise of US$1 million in seed funding for Revio, led by The Delta.
Revio, one of our ventures, has been performing extremely well in the middle-SME segment.
In a very short time, Revio has been able to contract with many middle SMEs looking to scale their e-commerce and subscription offerings, as well as larger businesses in the insurance, private security, and VAS (value-added services) industries looking to centralise billing and reconciliation across brands in one platform.
As for larger businesses, legacy technology architecture remains a challenge for integration. With Revio, however, we have been able to overcome this by providing the platform standalone, having businesses test the capability whilst integration is ongoing, and migrate to the fully integrated solution when ready.
In South Africa, there are numerous banks, fintechs, and card payment providers that allow businesses to accept payments in every shape and form; however, very few assist businesses to resolve their real pain points, such as failed payments, customer churn, and customer loyalty.
While providing customers with the payment methods they expect is important, there’s more to collecting recurring revenue on an ongoing basis, especially in a market where more than 75% of consumers have at least one account in arrears.
Our no-code architecture means that engagement strategies can be set up on the fly to proactively reach out to customers at risk of churn, automate customer arrears management, reward customers and even drive cross-sell and up-sell campaigns.
Currently there’s a surge in SaaS companies looking to integrate billing and payments capabilities via API. Many more savvy businesses are looking to source non-core capabilities to support their overall business offerings. Revio is also white-label-enabled and we are working with non-traditional financial services players to target specific sectors.
Now, expansion is on the horizon. Expanding into a continental market with a start in East Africa is a huge deal for us. We are looking forward to seeing where it goes and how it grows.
Thank you to CEO Business Africa for your feature on Revio. Read their article here.