Switzerland-based payments Fintech Rivero has raised a $7 million series A funding round, according to the company. The funding was led by 6 Degrees Capital and Inference Partners, with participation from PostFinance, Kraken Ventures, Seed X Liechtenstein, and former COO of Adyen, Robert Kraal, and more.
Rivero, founded in 2019, aims to simplify payment operations for the payments industry by “filling a gap in the market for fraud recovery, dispute management, and payment scheme compliance solutions.” The company focuses on banks but provides services for others.
Rivero says its competitive advantage is in its two SaaS products that seek to make payments seemless.
Kajo is said to be the only solution on the market for payment scheme compliance and enables all licensees of payment networks.
Amiko is another SaaS solution described as unique that digitalizes the entire fraud recovery and dispute process.
Rivero reports that it has secured partnerships with over 20 established financial institutions, ranging from issuing banks to acquiring banks and payment processors.
In 2022, Rivero became the first Swiss Fintech to be selected for the Visa Fintech Partner Connect program.
Thomas Müller, co-founder and CEO of Rivero, said they were “thrilled” with the Series A funding, especially given the current challenging market conditions.
“We take this as confirmation of our strong business model and clear market demand for our products.” Fatemeh Nikayin, co-founder, added, “This funding represents more than financial support; it’s a partnership with investors who understand and resonate with our vision and global ambitions.”