South African Subscription billing startup, Revio, raises US$1.03mn seed round
Revio, a startup helping companies manage their billing and subscription needs, has closed a R15mn (US$1.03 million) seed fund round led by venture builder, The Delta.
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Chief Executive Officer of The Delta and co-founder of Revio Luis Buys said that: “75% of South Africa consumers have at least one account in arrears, putting most businesses at risk. Revio makes it easy to avoid failed payments, customer churn and improve customer loyalty. While providing customers with the payment methods they expect has never been more important, managing customer subscriptions has never been so complicated.”
Through clever use of machine learning and analytics, Revio enables businesses to connect with customers in real-time.
The platform proactively reaches out to customers at risk of churn, automates customer arrears management, and rewards them for good behavior, with human-to-human touchpoints when necessary.
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One of its superpowers is that it supports all currencies and integrates with fintech startup Flutterwave, which means that its SaaS clients can offer their products to all African customers.
More than turning its clients into pan-African businesses, Revio also has its sights set on the rest of the continent:
“Revio is currently focused on the South African market, but will be expanding to other African countries in support of multinational clients towards the end of 2021. The plan is to formally launch in East Africa in 2022.”
In the past year, The Delta has raised R170 million (US$11.7 million) for its ventures, including a recent R4 million (US$275,194) funding round for its employee wellness venture Strove.
It is also in the process of raising funds for a disruptive market research tool, AI-BO, and a powerful data privacy platform, Priv, which helps companies become GDPR and POPIA compliant.
Delta aims to become a long-term venture partner and investor in South African startups, working with entrepreneurs to build great new ventures.
What You Need To Know About Revio
Founded in 2020, Revio is focused on helping startups, and particularly those in the Software as a service (SaaS) space, get more from their billing subscriptions.
The start-up counts Absa, Ozow, Flash, and Standard Bank amongst its integrations as well as e-commerce platforms like Shopify, WooCommerce, Opencart, and Magento.
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