Revuto’s Latest $1.7 Million in Funding to Aid Subscription Mgt and Payment Simplificationby Fintechnews Switzerland May 18, 2021
Just days ahead of its scheduled public token sale, Revuto has closed $1.7 million during a private investment round. The team is building the first decentralized application on the Cardano network for subscriptions and payment management.
Forthcoming dApp To Deliver Recurring Payment Functionality
As more and more companies adopt the subscription model, the subscription economy is witnessing a meteoric rise. However, consumers are always left without many choices as the subscription-based industry is ridden with free-trial traps and complicated cancellation policies.
Revuto dApp blends crypto and DeFi services with subscription payments to address these problems, allowing users greater control over their subscriptions. The dApp is built on the Cardano blockchain and is designed to favor consumers by making their subscriptions more cost-efficient. Revuto users can instantly send notifications to approve, block, or delay charges for subscriptions or any other pending payment type.
This innovative idea has gained tremendous momentum since its inception. With just a few days remaining for its scheduled public token sale, Revuto has achieved another milestone by raising $1.7 million from its private token sale. The private round, led by BlackDragon VC, attracted some of the most renowned private investors and firms within the blockchain ecosystem. Being the first to build a project on Cardano’s ecosystem, Revuto has already crossed over a million early sign-ups for its dApp.
The BlackDragon group is optimistic about Revuto’s innovative dApp and its potential to revolutionize the subscription economy. They announced,
“Their stellar team has shown unparalleled growth in a very short time – and we’re excited to join the team in this journey and support Revuto and their native token REVU. We invest hours of dedicated research to provide our community with the average ROI of 40x – and Revuto is exactly what we are looking for.”
According to their roadmap, the dApp is set to commence its public token sale on May 18th before preparing for a full deployment in the forthcoming months. The Revuto dApp features a unified dashboard that empowers users to control and manage online subscriptions, recurring payments, and applications for DeFi micro-loans.
The native REVU token powers the platform, and through the ecosystem’s native wallet, users will get rewards, cashback, and between different payment options. In addition, users can stake REVU tokens, adding liquidity to the protocol and earning profits in-kind.
Revuto’s CEO, Josipa Majic, sees the dApp as the catalyst for merging crypto and traditional markets. She adds,
“We’re grateful to our private investors, including BlackDragon, for believing in Revuto’s team and tech, and for sharing our vision of making crypto spendable in everyday life. Having the right funding and investor that backs our long term vision is crucial, hence we are delighted to achieve this milestone and excited for times ahead.”