Rivero, a Zurich-based payment fintech, has successfully raised €6.3 million in a Series A funding round. The investment, led by 6 Degrees Capital and Inference Partners, with participation from several notable entities, including PostFinance’s Venture Arm, Kraken Ventures, Seed X Liechtenstein, and angel investor Robert Kraal, will fuel Rivero’s expansion into new markets and enhance its product development and workforce.
Rivero specializes in the digitalization and automation of payment processes. The fintech aims to simplify payment operations in the highly regulated payments industry and fill a gap in the market for fraud recovery, dispute management, and payment scheme compliance solutions. Its innovative software-as-a-service (SaaS) products cater to all players in the payment ecosystem, with a particular focus on issuing banks.
The company’s first product, Kajo, is the only solution currently available for payment scheme compliance. It allows all licensees of payment networks to streamline and minimize the effort and risks associated with this process. Rivero’s second product, Amiko, is the only SaaS solution that digitizes the entire fraud recovery and dispute process. This empowers issuing banks to efficiently manage these processes while providing a unique self-service experience to their customers.
In just three years since its launch, Rivero has established partnerships with over 20 renowned financial institutions, ranging from issuing banks to acquiring banks and payment processors. The company’s achievements were further amplified when it became the first Swiss Fintech to join the Visa Fintech Partner Connect program in 2022. This prestigious initiative grants Rivero access to a selection of trusted technology partners that can support its growth and development.
Thomas Müller, co-founder and CEO of Rivero, expressed excitement about the Series A funding round, stating, We’re thrilled to share the news of our Series A round, especially given the current challenging market conditions. Müller sees this investment as validation of their robust business model and the clear market demand for their products. Co-founder Fatemeh Nikayin emphasized that the funding represents more than just financial support, highlighting the partnership with investors who understand and share Rivero’s global ambitions.
Thibault D’hondt, a partner at 6 Degrees Capital, expressed admiration for Rivero’s unique suite of SaaS solutions. He believes that the company’s offerings will enable banks and processors worldwide to address the challenges associated with scheme compliance and payment dispute management effectively. D’hondt anticipates that the investment will position Rivero as a global market leader for payment operations.
Rivero’s successful Series A funding round and its continuous efforts towards digitalizing and automating payment processes undoubtedly position the fintech as a significant player in the industry. As the company forges ahead, it is poised to make a lasting impact on the market, addressing critical pain points and revolutionizing the way payments are managed and protected.
