Stephan Wächter, Thomas Müller and Fatemeh Nikayin/Rivero
Payments fintech Rivero secures $7m Series A
The Swiss fintech specialises in digitalising and automating payment processes
European payments fintech Rivero has raised $7m Series A in a round led by 6 Degrees Capital and Inference Partners.
The Switzerland-based startup was co-founded by Stephan Wächter, Thomas Müller and Fatemeh Nikayin in 2019 with the mission of reshaping the landscape of payment processing.
It focuses on two products, providing Software-as-a-Services solutions for all companies in the card payment ecosystem, including issuers, acquirers, fintechs and issuing banks, its primary customers.
“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,” Inference Partners general partner Endre Sagi said.
“With its suite of payment solutions, Rivero enables card-issuing financial institutions to vertically integrate their fragmented payment value chain.”
Addressing an as yet largely untapped opportunity, Sagi said Infernce Partners believes the fintech is positioned to become an “essential part” of modern payment infrastructure.
Kraken Ventures, Seed X Liechtenstein and the venture arm of PostFinance, also participated in the funding round, alongside angel investors and Adyen’s former chief operating officer, Robert Kraal.
“This funding represents more than financial support; it's a partnership with investors who understand and resonate with our vision and global ambitions,” Nikayin said.
In the three years since Rivero launched, it has secured partnerships with more than 30 financial institutions, ranging from issuing banks to payment processors, and in 2022 was the first Swiss fintech to join the Visa Fintech Partner Connect programme.