Revio, the South African payment startup which raised a $5.2 million seed round last year, has announced that it is rebranding to "Precium". Precium is a Latin word for "pay" or "worth".
According to the company, the rebrand came as a result of significant growth in its enterprise client acquisition and income, tripling its monthly recurring revenue in the past six months. The company has extended its international reach with a pipeline of global merchants representing more than $100 million of monthly total payment volume.
“This exponential growth also attracted the interest of global businesses inside and outside of our industry with similar sounding names to Revio. After careful consideration, we decided to rebrand to future-proof our continued growth and global presence. We’ve leveraged this critical undertaking as a unique opportunity to reflect on our business and brand, and are thrilled to reintroduce ourselves as a home-grown company with an ambition to make a global impact,” the company said in a statement.
Founded in 2020 by Ruun Botha and Nicole Dunn and launched in 2021, the company enables businesses to optimise payment performance, automate financial operations, and craft extraordinary customer experiences through its modular payment platform.