Riva Money, a blockchain-based cross-border money transfer startup founded by alumni from Revolut and Wise, has successfully completed a pre-seed funding round led by Project A, alongside investments from angel investors associated with Revolut, Monzo, and JPMorgan.
Founded by Niklas Hoejman and Mahendra Katoch, both of whom have backgrounds at Revolut, Wise, Goldman Sachs, and Citigroup, Riva leverages blockchain technology, particularly stablecoins, to enhance infrastructure for international payments. Transfers will be optimized based on client needs, utilizing either blockchain or traditional fiat-to-fiat methods.
Co-founder and CEO Hoejman states, “By combining blockchain technology with a robust regulatory framework, we’re building a solution that offers businesses the speed, transparency, and cost-efficiency they need to thrive in today’s interconnected economy.”
Currently, Riva is seeking authorization as a payment institution in the UK and EU, as well as MiCA and VASP licenses in the EU and Switzerland. Hoejman also indicates that the new funding will be allocated to expanding the engineering team in preparation for a global rollout across Europe, Asia, and North America.