QED and Partech back Revio in $5.2m seed round

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In Africa, digital payments account for less than 10% of all transactions, presenting a substantial opportunity for financial institutions. According to McKinsey, the electronic payment sector is poised to experience annual revenue growth of 20%, reaching $40 billion by 2025. Despite this potential and the increasing number of industry players, payment challenges persist for many businesses. Three out of every ten digital payments in Africa result in failure, attributed to factors such as a fragmented payment landscape, invalid cards, dormant accounts, and high dispute rates. These failures collectively lead to an annual revenue loss of $14 billion for digital businesses across the continent. Nevertheless, payment orchestration startups like Revio simplify the process by offering businesses a seamless payment collection API.