Swiss PayTech Rivero raises $7m Series A to supercharge growth
By Gloria Methri
Rivero, a European FinTech specialising in digitalisation and automation of payment processes, has raised $7 million in a Series A round. The round was led by 6 Degrees Capital and Inference Partners, with participation from Kraken Ventures, Seed X Liechtenstein, the venture arm of PostFinance, together with multiple payment executives.
The investment will help Rivero accelerate its growth across new markets and boost its product development and workforce.
Founded in 2019, and headquartered in Switzerland, Rivero aims to simplify operations for the highly regulated payments industry, filling a gap in the market for fraud recovery, dispute management and payment scheme compliance solutions. Leveraging the benefits of SaaS, Rivero’s products cater to all players in the payment ecosystem, but towards issuing banks.
In just three years since its go-to-market, Rivero has secured partnerships with over 20 well-established financial institutions, ranging from issuing banks to acquiring banks and payment processors.
Commenting on the Series A round, Thomas Müller, co-founder and CEO of Rivero, said, “We are thrilled to share the news of our Series A round. Especially given the current challenging market conditions. We take this as confirmation of our strong business model and clear market demand for our products.”
Thibault D’hondt, Partner at 6 Degrees Capital, said, “Globally, banks spend billions of dollars on scheme compliance and payment dispute management. Rivero is the first of its kind to offer a suite of SaaS solutions to help banks and processors address the challenge. We have been truly impressed with the exceptional vision of the management and believe this investment will allow Rivero to become a global market leader for payment operations.”
Endre Sagi, General Partner of Inference Partners, added, “The value chain of payments is highly fragmented, and while there are initiatives to address this challenge on the acquiring side, the issuing side has seen much less innovation. With its suite of payment solutions, Rivero enables card-issuing financial institutions to vertically integrate their fragmented payment value chain. By addressing this largely untapped opportunity, we believe Rivero is perfectly positioned to become an essential part of modern payment infrastructure.”
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