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January 15, 2024

Ex-Adyen COO Champions $7M Funding Boost for Trailblazing Female-Led Regtech

Rivero, the Swiss trailblazer revolutionizing payment processes, secured a significant $7M in Series A funding

In payment technologies, Rivero, a Swiss regtech, has made a splash by securing $7 million in Series A funding. Spearheaded by 6 Degrees Capital and Inference Partners, the round witnessed robust participation from notable entities like Kraken Ventures, Seed X Liechtenstein, and the venture arm of PostFinance, among others. Rivero sets its sights on streamlining payment operations in the heavily regulated industry, focusing on fraud recovery, dispute management, and payment scheme compliance solutions.

Rivero's co-founder, Thomas Müller, unveils the strategic intent behind the funding, emphasizing a concerted effort to propel business development across key European markets and beyond. The infusion of capital is poised to facilitate an expanded product portfolio, particularly targeting issuing banks. With a vision to serve a global customer base, Rivero seeks to empower issuing banks in addressing multifaceted challenges beyond the current product scope.

Founded in 2019 by Fatemeh Nikayin and Thomas Müller, Rivero emerged from their firsthand experiences grappling with challenges in card payment operations. Nikayin's background in payments and international consulting, coupled with Müller's expertise in cybersecurity and software engineering, laid the foundation for a startup addressing compliance intricacies linked to payment networks like Visa and Mastercard.

Rivero positions itself as a trailblazer in simplifying payment operations, particularly tailored for the intricate landscape of issuing banks. Leveraging the advantages of Software as a Service (SaaS), Rivero's suite of products caters to the entire payment ecosystem. Recognized as the first Swiss regtech in the Visa Fintech Partner Connect program, Rivero stands at the forefront of innovation in the highly regulated payments industry.

Thibault D’hondt, Partner at 6 Degrees Capital, underscores the pioneering role Rivero plays in the market, providing SaaS solutions to help banks and processors navigate the challenges of scheme compliance and payment dispute management. Endre Sagi, General Partner of Inference Partners, highlights Rivero's unique position in addressing the fragmented nature of the payment value chain, particularly on the issuing side.

Rivero boasts two distinctive SaaS offerings. Kajo, positioned as the market's sole solution for payment scheme compliance, streamlines the efforts and mitigates risks for payment network licensees. On the other hand, Amiko, Rivero's second product, serves as the only SaaS solution digitalizing the entire fraud recovery and dispute process. Designed to empower issuing banks, Amiko enhances efficiency while delivering a unique self-service experience to customers, thus advancing consumer protection for card payments.

Josefina Dipaolo
Josefina Dipaolo
Content writer at TechNews180
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