Ex-Revolut/Wise Team Raises Pre-Seed Funding
Riva Money, a blockchain payments startup founded by former Revolut and Wise executives, has raised $3 million in pre-seed financing. The round was led by Project A Ventures with backing from angel investors at Revolut, Monzo, and JPMorgan.
Founders’ Vision: Bridging Traditional and Blockchain Finance
Co-founders Niklas Hoejman (ex-Revolut) and Mahendra Katoch (ex-Wise/Goldman Sachs) aim to disrupt international transfers by:
✅ Combining blockchain speed with traditional banking security
✅ Offering dual-rail payments: Stablecoin or fiat transfers
✅ Reducing costs by up to 70% vs. legacy systems
“We’re merging blockchain’s advantages with strong regulation to help businesses grow globally,” states CEO Hoejman.
Technology Differentiation
| Traditional Providers | Riva Money |
|---|---|
| 1-3 day settlements | Minutes via blockchain |
| High FX fees | Near-zero stablecoin costs |
| Opaque pricing | Real-time tracking |
The platform’s hybrid model lets businesses choose optimal transfer methods based on:
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Urgency
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Cost targets
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Regulatory requirements
Strategic Regulatory Progress
Riva is pursuing key approvals:
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UK/EU Payment Institution Licenses
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MiCA Compliance for crypto services
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Swiss VASP Registration
*These steps ensure secure, compliant operations across 40+ countries.*
Market Opportunity & Expansion Plan
The $150B cross-border payments market faces:
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High Costs: Average 6.5% fees
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Slow Speed: 60% take >24 hours
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Demand Surge: 25% YoY blockchain payment growth
With new funding, Riva will:
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Double engineering team by Q4 2024
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Launch in Europe (Q1 2025)
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Expand to Asia/North America (2026)
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Target 10,000+ businesses in 3 years
Investor Confidence
Project A Ventures (lead investor) cites:
“Riva’s hybrid model solves real pain points for global businesses while meeting strict compliance standards – a rare combination.”
Angels from JPM/Revolut add:
“Their team’s experience building at scale is unmatched in the blockchain payments space.”
Competitive Landscape Advantage
Unlike pure-crypto players, Riva offers:
🔹 Regulatory-first approach
🔹 Bank-grade security
🔹 Seamless integration with accounting systems
🔹 No cryptocurrency exposure risk for clients
This positions Riva to capture market share from both traditional providers and crypto-native startups.