Riva Money, the Global Payments Company, has raised a pre-series of $ 3 million to resolve the persistent points of pain in global monetary transfers.
Cross -border payments can still take up to five days to reach beneficiaries, as transfers are sent by a range of banks and financial institutions.
Riva’s mission is to reduce high costs and long settlement times for cross -border transfers by creating the next generation of commercial payment services. Its infrastructure bypasses the low exchange rates of banks and inheritance suppliers, while providing modern technology to inherited systems that have experienced little innovation for decades.
Riva was founded by Niklas Hoejman and Mahendra Katoch, two fintech professionals with in -depth expertise in cross -border payments, who worked at Revolut and Wise, as well as Goldman Sachs and Citigroup. Even among payment innovators, they saw how inherited systems have led to delays, high costs and poor transparency, creating a frustrating and opaque customer experience. As an expatriates and frequent users of international payment services, they experienced these first -hand problems, which led their determination to create a better way to move money worldwide.
Niklas Hoejman, co-founder and CEO of Riva Money, said:
Our mission is simple: to allow companies a world money movement of companies, instantly and a fraction of the cost.
By combining blockchain technology with a robust regulatory framework, we create a solution that offers businesses the speed, transparency and profitability they need to thrive in today’s interconnected economy.
Riva uses Blockchain technology, with stablescoins as a basic application, to supply its international payment infrastructure. Transfers can be sent via blockchain rails or traditional Fiat-Fiat channels, depending on the best for the customer. This flexibility guarantees that customers obtain the most efficient and profitable option for their transfers according to their location and their needs.
The Tour was led by project A, with the participation of providential investors of Revolut, Monzo and JP Morgan.
Malin Posen, Partner and Managing Director of Project A, said:
The way we change money in the world is changing. The in -depth expertise of Niklas and Mahendra in terms of payments and financial markets perfectly positions Riva to resolve the real points of pain that companies face with slow and opaque international transfers. By combining traditional payment infrastructure with blockchain technology, they build exactly what frustrated financial teams expected – faster and more transparent world payments.
Riva will use funding to develop its operations, expand its engineering team and deploy services worldwide in Europe, Asia and North America.
As part of this expansion, the company requests authorization as a payment institution in the United Kingdom and the EU, as well as Mica and VSP licenses in the EU and Switzerland.
Image of lead: founders of Riva | Photo: Not credited
