Riva Money, a blockchain payments startup, has raised $3 million in funding led by Project A to expand its operations and enhance its global payment solutions.

Target Overview

Riva Money, a technology startup specializing in blockchain-powered payment solutions, has successfully secured $3 million in a pre-seed funding round. The investment round was led by Project A, a prominent venture capital firm, alongside contributions from angel investors associated with Revolut, Monzo, and J.P. Morgan. The funds will be utilized to expand Riva's operational capabilities and facilitate a global rollout across Europe, Asia, and North America, as well as to bolster its engineering team.

Founded by seasoned FinTech professionals Niklas Hoejman and Mahendra Katoch, Riva Money addresses the inherent challenges of traditional cross-border payment systems. Both founders previously held key positions at major financial institutions like Revolut, Wise, Goldman Sachs, and Citigroup, where they were acutely aware of the inefficiencies, inflated costs, and lack of transparency still prevalent in legacy financial systems. Their personal experiences as expatriates further motivated their mission to enhance international payment services.

Industry Overview

The payment industry, particularly in regions such as the UK and EU, is undergoing significant transformation driven by digital advancements and the rising adoption of blockchain technology. With escalating global commerce and the continuous demand f