Revix, a Cape Town-based crypto company has raised $4 million in capital to expand to Germany to fuel growth.
Revix has recorded leaps of success in the South African market, plans to commit $4 million capital to fuel growth and expand to the European market. The funds will be used to launch Revix’s new mobile application, and for the launch of “Fourth Industrial Revolution” investment opportunities.
Leading the investing round was serial entrepreneur Max Heinzle, founder and CEO of 21 Finance based in Europe, backed by a consortium of European investors and the Qatar Development Bank.
Revix has offices in Cape Town and London, and will soon add Frankfurt to that list.
“The reason we have decided to tackle the German-speaking world at this stage of our growth is that we have, through our funding partner JSE-listed Sabvest, established a partnership with a German bank that will give us a strong footing in this market,” says Revix CEO Sean Sanders.
Revix brought affordable investment to the South Africans market, users with limited funds can transact the crypto market by completely bypassing the fund management and broker segments of the market. Anyone with R500 could purchase a pre-specified ‘bundle’ of crypto investments at just 1% cost.
The company’s customer growth has mirrored the meteoric rise in the cryptocurrency market which has now increased in value to over $2 trillion, making the digital asset class more valuable than Apple.
Revix’s ready-made crypto portfolios or ‘bundles’ function similar to ETFs (exchange-traded funds) by providing low-cost diversified exposure to a broad array of the top cryptocurrencies through one investment product.
The company attracted more than $25 million in fund inflows over the last year of operations, and this includes both institutional and retail investors.
“We plan to blur the lines between investing in traditional asset classes like stocks as well as the emerging alternative investment space. We want to empower everyday people to safely invest in emerging themes, technologies and asset classes effortlessly,” says Sanders, hinting at some of the theme-based investment concepts soon to rolled out.
“If you’ve ever been in a situation where you’ve wanted to invest in the fastest-growing sectors such as AI [artificial intelligence], biotech, 5G, eSports or cryptocurrencies that are likely going to have a big impact on humanity’s future but don’t know how to get started, well soon you’ll be able to turn to Revix to assist you.
“Our main goal is to help people allocate their money to areas that they believe in.”
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. Since launching, the accelerator has incubated over 45 companies that have raised a total of more than $30 million in follow-on funding.
