South Africa’s Revio, an order to cash management platform aimed at helping merchants improve their payment processing, has renamed itself to Precium, marking a growth from a local processor to an international player.
Established in 2020 and starting operations in 2021, Revio is an Africa-centred payment orchestration platform that reduces the pain points, cost, and risks associated with payment operations for merchants, allowing them to serve and acquire customers.
Global and local merchants can accept more than 70 payment methods through a single PCI-compliant platform and standardized API, and can add configurable routing and retry rules, as well as proactively communicate with their customers during the payment process.
The startup revealed in October last year that it had received a seed investment round of US$5.2 million to help it expand across Africa and scale up, adding that it had seen radical increases in the size of its team and product capabilities, as well as the size of its merchant base
“Far earlier than expected, the platform attracted the attention of global merchants looking to deepen their reach and realize the full potential of African consumer markets. These merchants demand the highest standards of security, processing reliability, and local expertise, to support their expansion ambitions,” the startup said, addressing its rebranding.
“What started as a venture to provide world-class payment technologies to South African merchants has since become a platform to enable global merchants to access emerging African markets. While our operations remain firmly rooted in South Africa, more and more of our clients are companies abroad. Our rebranding aims to capture our evolution into a globally competitive payment infrastructure platform, purpose-built for enterprise scale,” Nicole Dunn, co-founder and COO at Precium, said.
“This exponential growth also attracted the interest of global businesses inside and outside our industry with similar sounding names to Revio. After careful consideration, we decided to rebrand to future-proof our continued growth and global presence. We’ve leveraged this critical undertaking as a unique opportunity to reflect on our business and brand, and are thrilled to reintroduce ourselves as a home-grown company with an ambition to make a global impact.”
