Rivero secures $7 million to boost Europe-wide fintech growth

Swiss fintech company Rivero has secured $7m in Series A funding to amplify its Europe-wide growth. Rivero, established in 2019, streamlines payment operations for the tightly ruled payments industry and was the first fintech company selected for the Visa Fintech Partner Connect programme in 2022.

The new funding round was led by 6 Degrees Capital and Inference Partners and further supported by PostFinance's venture arm, Seed X Liechtenstein, Kraken Ventures and an array of payment executives.

Based in Zurich, Rivero is leveraging Software-as-a-Service (SaaS) to address a market need for fraud recovery, dispute management, and payment scheme compliance solutions, with a growing customer base stretching across Europe.

Rivero differentiates itself from the competition through its two specialised SaaS products with a focus on simplifying traditionally costly and tedious payment operations.

Rivero's first product, Kajo, stands out as the singular solution for all licenced payment networks aiming to minimise the effort and associated risks in complying with payment schemes.

Amiko, its second product, is a pioneering SaaS offering that digitises the entire fraund recovery and dispute process, providing issuing banks a unique self-serving solution. It also gives banks the ability to endorse card payment protection for its customers without worry about rising costs or volume.

Since its debut three years ago, Rivero has formed partnerships with over 20 established financial institutions ranging from issuing to acquiring banks and payment processors.

Rivero also earned a place in the prestigious Visa Fintech Partner Connect programme as the first Swiss fintech in 2022, granting it access to a selection of top-tier, reliable technology partners.

Co-founder and CEO of Rivero, Thomas Mϋller, commented on the new round of funding, "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." Co-founder, Fatemeh Nikayin added, "This funding represents more than financial support; it's a partnership with investors who understand and resonate with our vision and global ambitions."

Thibault D'hondt, a Partner at 6 Degrees Capital, remarked, "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."

Endre Sagi, General Partner of Inference Partners, stated that they believe the suite of payment solutions provided by Rivero enables card-issuing financial institutions to consolidate their fragmented payment value chain.