Rivero, a Swiss FinTech specialising in digital payment processing solutions, has successfully closed a $7 million Series A funding round.
According to IBS Intelligence, the round witnessed significant interest, led by 6 Degrees Capital and Inference Partners, and saw contributions from Kraken Ventures, Seed X Liechtenstein, the venture arm of PostFinance, alongside numerous prominent payment executives.
The infusion of capital is earmarked to propel Rivero’s expansion into new markets, enhancing product development and fortifying its workforce. Established in 2019 and based in Switzerland, Rivero is committed to streamlining operations within the highly regulated payments industry.
The company has identified and is addressing a critical market need for efficient fraud recovery, dispute management, and compliance with payment schemes. Rivero’s offerings, leveraging Software as a Service (SaaS) models, are designed to serve a broad spectrum of participants in the payment ecosystem, particularly focusing on issuing banks.
In a relatively short span since its market introduction, Rivero has forged alliances with over 20 established financial entities, encompassing a range from issuing to acquiring banks and payment processors.
Thomas Müller, co-founder and CEO of Rivero, expressed his enthusiasm: “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.”
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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