Swiss fintech firm Rivero has successfully raised $7 million in a Series A funding round. Established in 2019, Rivero focuses on simplifying payment operations within the highly regulated payments industry. It addresses the market’s gap for solutions related to fraud recovery, dispute management, and payment scheme compliance.
Rivero’s suite of software-as-a-service (SaaS) products caters to various stakeholders in the payment ecosystem, with a specific emphasis on serving issuing banks. The company’s first product, Kajo, stands out as the sole solution in the market for payment scheme compliance, reducing the effort and risks involved in this process for all licensees of payment networks.
The second product, Amiko, is a unique SaaS solution that digitizes the entire fraud recovery and dispute process. This enables issuing banks to efficiently manage these processes while offering customers a self-service experience. Amiko empowers banks to promote consumer protection of card payments without being concerned about increasing volume or costs.
Rivero has already established partnerships with over 20 well-established financial institutions, including issuing banks, acquiring banks, and payment processors. The Series A funding round, led by 6 Degrees Capital and Inference Partners, saw participation from Kraken Ventures, Seed X Liechtenstein, PostFinance’s venture arm, and angel investor Robert Kraal, former COO of Adyen, along with several payment industry executives.
Thomas Müller, co-founder and CEO of Rivero, expressed excitement about the Series A round, seeing it as confirmation of the company’s strong business model and clear market demand for its products. The funds raised will be used to accelerate growth in new markets, enhance product development, and expand the workforce. Thibault D’hondt from 6 Degrees Capital highlighted the global significance of Rivero’s offerings in addressing the substantial expenses related to scheme compliance and payment dispute management for banks and processors.