By: 12 January 2024

Rivero’s suite targets fraud, dispute and compliance

Visa selected Rivero raises $7m in series A round

Rivero, a Switzerland-headquartered fintech that simplifies payment processes, has raised $7m in a series A round.  

The round was led by 6 Degrees Capital and Inference Partners, with participation from the venture arm of PostFinance, Kraken ventures and angel investors. 

Rivero will use the investment to accelerate its growth across new markets and boost its product and development workforce.  

Founded in 2019, Rivero digitises and automates payment operations for the industry. It specialises in fraud recovery, dispute management and payment scheme compliance solutions.  

The fintech works with issuing and acquiring banks, and payment processors. In 2022, Rivero became the first Swiss fintech to be selected for the Visa Fintech Partner Connect programme.  

Commenting on the round, Thomas Müller, co-founder and chief executive officer of Rivero, said: “Given the current challenging market conditions, we take this as confirmation of our strong business model and clear market demand for our products.”  

Thibault D’hondt, partner at 6 Degrees Capital, said: “Globally, banks spend billions of dollars on scheme compliance and payment dispute management. Rivero is the first of its kind to offer a suite of SaaS solutions to help banks and processors address the challenge.” 

Endre Sagi, general partner of Inference Partners, believes the value chain of payments is highly fragmented. And while there are initiatives to address this challenge on the acquiring side, the issuing side has seen much less innovation.  

He added: “With its suite of payment solutions, Rivero enables card-issuing financial institutions to vertically integrate their fragmented payment value chain. By addressing this largely untapped opportunity, we believe Rivero is perfectly positioned to become an essential part of modern payment infrastructure.” 

Image: Rivero  

Josh Poyser
Josh Poyser is a junior editor at FinTech Intel.