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Revix raises R58.5 million in off-shore capital funding


Cape Town-based cryptocurrency investment platform poised for rapid global growth while showcasing the potential of the local cryptocurrency market

Cape Town, 14 April 2021: Leading cryptocurrency investment platform, Revix, with offices in Cape Town and London, has raised R58.5 million in off-shore capital funding – showcasing the attractiveness of cryptocurrency investment in South Africa.

Founded in 2018 on the principle that everyone should be able to invest their own money and become their own wealth manager, the business’ customer growth has mirrored the exponential rise in the cryptocurrency market which is valued at over $2 Trillion – making the digital asset class more valuable than Apple.

The capital will be used to launch Revix's mobile application, a variety of Fourth Industrial Revolution (4IR) investment opportunities, and for expansion to the European Union. Locally, the funding will allow for the creation of more than 30 additional South Africa-based jobs, proof that regulating cryptocurrencies in South Africa can offer employment opportunities and long-term economic growth.

"We aim to blur the lines between investing in traditional asset classes, such as stocks, as well as the emerging alternative investment themes, such as AI, biotech, 5G, eSports and cryptocurrencies, said Sean Sanders, CEO and Founder of Revix. “We want to empower everyday people to safely invest in emerging themes, technologies and asset classes in an effortless way.”

The FinTech is the first investment platform in South Africa to offer a behavioural loyalty and rewards programme, where customers can earn points that can be redeemed for Bitcoin. "We're building a behavioural loyalty model that incentivises investors to undertake smart investment decisions, such as diversifying their investment portfolios, growing the investment community, improving their financial knowledge and making smart long-term investment decisions, while being rewarded for doing so,” Sanders explains.

Revix joins two global accelerator and incubation hubs

In addition to the funding secured, Revix was also one of 21 start-ups, and the only South African FinTech, to be accepted into the world-renowned six-month Berkeley Blockchain Xcelerator.

“The accelerator is renowned for partnering with businesses that target global societal challenges by using novel technologies. Revix has created a platform that has the potential to break down the barriers to access within this alternative investing space,” says Jocelyn Weber, director of X-Labs and Berkeley’s Blockchain Xcelerator.

The company was also one of 11 selected FinTechs (out of 500 applicants) for Wave 2 of the Qatar FinTech Hub’s (QFTH) Incubator and Accelerator Programmes.

“We are at the early stages of a multi-decade super-cycle of retail investing and are looking forward to progressing the intricate web of consumer tech, finance, and regulation needed to bring real innovation to the private investment space alongside Revix,” said Ibrahim Al Mannai, Executive Director of advisory and incubation at Qatar Development Bank.

“We’ve managed to achieve monumental growth in our first three years holding strong to our mission of helping millions of people reach their financial goals, which provides alternative investment options in a rapidly developing space,” concludes Sanders.

Press releases

Revix raises R58.5 million in off-shore capital funding


Cape Town-based cryptocurrency investment platform poised for rapid global growth while showcasing the potential of the local cryptocurrency market

Cape Town, 14 April 2021: Leading cryptocurrency investment platform, Revix, with offices in Cape Town and London, has raised R58.5 million in off-shore capital funding – showcasing the attractiveness of cryptocurrency investment in South Africa.

Founded in 2018 on the principle that everyone should be able to invest their own money and become their own wealth manager, the business’ customer growth has mirrored the exponential rise in the cryptocurrency market which is valued at over $2 Trillion – making the digital asset class more valuable than Apple.

The capital will be used to launch Revix's mobile application, a variety of Fourth Industrial Revolution (4IR) investment opportunities, and for expansion to the European Union. Locally, the funding will allow for the creation of more than 30 additional South Africa-based jobs, proof that regulating cryptocurrencies in South Africa can offer employment opportunities and long-term economic growth.

"We aim to blur the lines between investing in traditional asset classes, such as stocks, as well as the emerging alternative investment themes, such as AI, biotech, 5G, eSports and cryptocurrencies, said Sean Sanders, CEO and Founder of Revix. “We want to empower everyday people to safely invest in emerging themes, technologies and asset classes in an effortless way.”

The FinTech is the first investment platform in South Africa to offer a behavioural loyalty and rewards programme, where customers can earn points that can be redeemed for Bitcoin. "We're building a behavioural loyalty model that incentivises investors to undertake smart investment decisions, such as diversifying their investment portfolios, growing the investment community, improving their financial knowledge and making smart long-term investment decisions, while being rewarded for doing so,” Sanders explains.

Revix joins two global accelerator and incubation hubs

In addition to the funding secured, Revix was also one of 21 start-ups, and the only South African FinTech, to be accepted into the world-renowned six-month Berkeley Blockchain Xcelerator.

“The accelerator is renowned for partnering with businesses that target global societal challenges by using novel technologies. Revix has created a platform that has the potential to break down the barriers to access within this alternative investing space,” says Jocelyn Weber, director of X-Labs and Berkeley’s Blockchain Xcelerator.

The company was also one of 11 selected FinTechs (out of 500 applicants) for Wave 2 of the Qatar FinTech Hub’s (QFTH) Incubator and Accelerator Programmes.

“We are at the early stages of a multi-decade super-cycle of retail investing and are looking forward to progressing the intricate web of consumer tech, finance, and regulation needed to bring real innovation to the private investment space alongside Revix,” said Ibrahim Al Mannai, Executive Director of advisory and incubation at Qatar Development Bank.

“We’ve managed to achieve monumental growth in our first three years holding strong to our mission of helping millions of people reach their financial goals, which provides alternative investment options in a rapidly developing space,” concludes Sanders.

Need help? Email us at
support@revix.com

Regions
Europe
Africa
Asia
America
Australasia
Language
EN
SA office

Equinox Building

154 Main Rd, Sea Point

8005, Cape Town

South Africa

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Need help? Email us at
support@revix.com

Regions
Europe
Africa
Asia
America
Australasia
Language
EN
SA office

Equinox Building

154 Main Rd, Sea Point

8005, Cape Town

South Africa

Follow
Investing involves risks, including loss of capital, illiquidity and should be done only as part of a diversified portfolio. Please read the General Risk Disclosures and Crypto Risk Disclosures before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Revix platform.

Revix’s cryptocurrency-related services are not regulated by any regulatory body. Please be aware that you’ll have no recourse to any financial ombudsman service or any financial regulator or authority in the event of a complaint relating to our cryptocurrency services. Please note that your Revix account is not protected by a financial services compensation scheme and your cryptocurrency holdings may experience price volatility resulting in a high degree of risk which can result in the loss of your invested capital. Before investing, you should ensure that you fully understand all the risks involved and take into consideration your level of experience and investment objectives. You should not invest more than you can afford to lose. Revix does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with us, you should consult a professional adviser.

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