South African cryptocurrency platform raises R58.5-million

Cape Town-based cryptocurrency investment platform Revix has raised R58.5 million in off-shore capital funding.

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

The funding raised will be used to launch the fintech startups’ mobile app, several Fourth Industrial Revolution Investment opportunities, and to expand its business model and offering into the European Union. 

In addition, the funding will enable Revix to create 30 new jobs in South Africa. 

Revix

Founded in 2018, Revix aims to empower everyone to become their own wealth manager with its investment platform that allows users to access a diversified portfolio of cryptocurrency. 

Sean Sanders, CEO, and founder of Revix highlights the main aims of the tech startup. 

“We aim to blur the lines between investing in traditional asset classes, such as stocks, as well as the emerging alternative investment sectors, 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.”

Revix claims to be the first investment platform in South Africa that offers 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. 

Global recognition and participation

Revix has also announced that it is the only South African fintech to be accepted into the prestigious six-month Berkeley Blockchain Xcelerator. 

Jocelyn Weber, director of X-Labs and Berkeley’s Blockchain Xcelerator explains why Revix was chosen to participate in the global accelerator. 

“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.”

In addition, Revix was also selected for Wave 2 of the Qatar FinTech Hub’s (QFTH) Incubator and Accelerator Programmes.

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Featured image: Sean Sanders, CEO, and founder of Revix (Supplied)