Riva raises $3m to speed up global money transfers

August 13, 2025

Riva Money has secured $3m in pre-seed funding to develop blockchain-powered payment infrastructure designed to bypass traditional banking networks and enable faster, cheaper international money transfers.

The round was led by Project A, with participation from angel investors connected to Revolut, Monzo and J.P. Morgan.

The company aims to modernise B2B payments by blending blockchain and traditional payment rails, allowing each transaction to be routed in a way that optimises both cost and speed.

This dual approach enables Riva to overcome the slow settlement times and high charges still common in cross-border payments, which can take up to five days when routed through banks and intermediaries.

Founded by former Revolut and Wise professionals Niklas Hoejman and Mahendra Katoch, alongside experience at Goldman Sachs and Citigroup, Riva was born out of first-hand frustrations with legacy systems.

Even in leading payment companies, the founders witnessed how outdated infrastructure inflated costs, delayed transfers, and limited transparency, leaving clients with a poor user experience. Their personal experiences as frequent users of global money transfer services reinforced their ambition to build a faster, more transparent solution.

Riva’s platform will use blockchain technology, including stablecoins, to create a flexible payments network. Transfers can be made either through blockchain-based rails or via fiat-to-fiat channels, depending on what best suits the client’s needs and jurisdiction. This flexibility, the firm says, ensures the most efficient routing for each transaction.

As part of its expansion strategy, Riva is seeking payment institution authorisation in the UK and EU, as well as MICA and VASP licences in the EU and Switzerland.

Riva Money CEO Niklas Hoejman said, “Our mission is simple: to enable businesses’ limitless global money movement, instantly and at a fraction of the cost.

“By combining blockchain technology with a robust regulatory framework, we’re building a solution that offers businesses the speed, transparency and cost-efficiency they need to thrive in today’s interconnected economy.”

Project A partner and managing director Malin Posern said,”With stablecoin adoption accelerating and regulatory frameworks maturing globally, the time is right for an infrastructure rethink. Riva’s dual-rail system for businesses elegantly solves for both speed and flexibility in a market that’s still reliant on legacy processes. Niklas and Mahendra’s deep expertise in payments and financial markets positions Riva perfectly to build the next generation of payment services.”