South Africa's Revio raises $1M+ seed funding
Summary
Revio also offers its clients full visibility with real-time customer segmentation and analytics dashboards to allow them monitor direct collections efforts and increase customer lifetime value.Revio says Africas fragmented payments landscape, higher dispute rates, invalid or expired card details, false-positive fraud checks, and insufficient funds cause up to 30% of digital payments in Africa to fail. Per a company statement, An estimated $14 billion in recurring revenue is uncollected each year, and the continent has a 320% higher churn rate than mature markets.In a press statement shared with TechCabal, Alvaro Perezcano, FinTech Investor at SpeedInvest, Revios lead investor noted, 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. Revios enterprise clients include insurers, telcos, retailers, subscription software and media companies, asset leasing or financing businesses, and alternative lenders. The firm plans to expand its offerings to Latin America.Said Nicole Dunn, Revios COO, Customers are treated like gold when they are being acquired, and like criminals when they fail to pay. Im excited to partner with our investor community to accelerate our growth and the value that we deliver to our customers, said Ruaan Botha, Revio CEO.Get the best African tech newsletters in your inbox