Swiss payment technology firm Rivero has successfully raised $7 million in Series A funding to expand into new markets and enhance its product development and workforce.
The funding round was led by 6 Degrees Capital and Inference Partners, with contributions from Kraken Ventures, Seed X Liechtenstein, and the venture arm of PostFinance. Notable angel investor Robert Kraal, former COO of Adyen, along with several payment industry executives, also participated.
Founded in 2019, Rivero offers a SaaS product suite that addresses key aspects of fraud recovery, dispute management, and payment scheme compliance, specifically targeting issuing banks.
Since its market launch, Rivero has established partnerships with over 20 financial institutions, including issuing banks, acquiring banks, and payment processors.
Commenting on the Series A funding, Rivero’s co-founder and CEO, Thomas Müller, stated, “We’re thrilled to share the news of our Series A round. Especially given the current challenging market conditions, we see this as confirmation of our strong business model and clear market demand for our products.”