In a significant stride forward in the fintech world, Rivero, a trailblazing European company at the forefront of payment process digitalization and automation, has successfully raised €6.3 million in a Series A funding round. This milestone, led by 6 Degrees Capital and Inference Partners, with contributions from PostFinance’s Venture Arm, Kraken Ventures, Seed X Liechtenstein, and notable angel investor Robert Kraal, along with various payment executives, marks a new era for Rivero in its mission to revolutionize the digital payments landscape.
The infusion of capital is set to turbocharge Rivero’s expansion into new markets, amplifying product development and bolstering its workforce. Thomas Müller, co-founder and CEO of Rivero, exudes confidence in their journey, stating, “We’re 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.” Fatemeh Nikayin, co-founder, echoes this sentiment, highlighting the investment as not just financial backing but a partnership aligning with their vision and global aspirations.
Established in 2019 and headquartered in Switzerland, Rivero has quickly become a dynamic force in European fintech. The company’s mission is to simplify the complexities of payment operations within the highly regulated payments industry. By filling a critical gap in the market for fraud recovery, dispute management, and payment scheme compliance solutions, Rivero is setting a new standard in the sector. Their products, leveraging SaaS technology, are particularly beneficial to issuing banks, offering streamlined solutions to age-old challenges.
Rivero’s competitive advantage shines through its two unique SaaS offerings. Kajo, the first product, stands as the sole market solution for payment scheme compliance, drastically reducing the effort and risks for licensees of payment networks. Amiko, their second innovation, is the only SaaS solution that digitizes the entire fraud recovery and dispute process. This groundbreaking tool enables issuing banks to efficiently manage these complex processes while offering an exceptional self-service experience to customers, fostering consumer protection in card payments.
In just three years since its market debut, Rivero has forged partnerships with over 20 leading financial institutions, encompassing issuing banks, acquiring banks, and payment processors. The company’s selection in 2022 for the Visa Fintech Partner Connect programme, a prestigious initiative linking fintechs with top-tier technology partners, underscores its rising influence in the industry.
Thibault D’hondt from 6 Degrees Capital praises Rivero’s vision, noting, “Globally, banks spend billions on scheme compliance and payment dispute management. Rivero is the first to offer a suite of SaaS solutions to address this challenge, positioning them to become a global market leader in payment operations.” Endre Sagi of Inference Partners highlights the unique value Rivero brings to the table, addressing a largely untapped opportunity on the issuing side of payments and paving the way for Rivero to become an integral part of modern payment infrastructure.
In conclusion, Rivero’s successful Series A funding round is not just a financial triumph; it is a testament to their innovative approach in addressing critical challenges in the digital payments space. As they continue to expand and develop, Rivero is poised to reshape the landscape of payment security and fraud recovery, making a significant impact on the financial industry at large.
