Grace Ashiru
The South African payments orchestration startup known as Revio announced today their rebranding to Precium, a move made to signify the company’s growth from a local processor to a global payments platform.
Over the past 18 months, Precium experienced radical growth in its team, product capabilities, and merchant base. Far earlier than expected, the platform attracted the attention of global merchants looking to deepen their reach and realise the full potential of African consumer markets. These merchants demand the highest standards of security, processing reliability, and local expertise, to support their expansion ambitions.
“What started as a venture to provide world-class payment technologies to South African merchants has since become a platform to enable global merchants to access emerging African markets. While our operations remain firmly rooted in South Africa, more and more of our clients are companies abroad. Our rebrand aims to capture our evolution into a globally competitive payment infrastructure platform, purpose-built for enterprise scale,” says Nicole Dunn, Co-Founder and COO at Precium.
After announcing a $5.2 million seed investment last year, Precium demonstrated significant growth in its enterprise client acquisition and income, tripling its monthly recurring revenue in the past six months. The company has extended its international reach with a pipeline of global merchants representing more than $100 million of monthly total payment volume.
“This exponential growth also attracted the interest of global businesses inside and outside of our industry with similar sounding names to Revio. After careful consideration, we decided to rebrand to future-proof our continued growth and global presence. We’ve leveraged this critical undertaking as a unique opportunity to reflect on our business and brand, and are thrilled to reintroduce ourselves as a home-grown company with an ambition to make a global impact,” shares Dunn.
“There is a lot of complexity and fragmentation in the payments industry, and payments companies often amplify this complexity to merchants. From the beginning, our goal was to build solutions that can simplify payment operations for merchants, and we wanted our new brand to reflect this,” shares Ruaan Botha, CEO and Co-Founder at Precium.
He adds: “For the past two years, our team has worked closely with enterprise businesses to streamline their payment operations and reduce payment failures. Our mission remains unchanged. In this next chapter, we are deepening our capabilities to be purpose-built for enterprise scale, and further help merchants transform payments from a cost centre to a revenue enabler.”
“We believe that the next ten years will see merchants become increasingly strategic about which payment methods they expose to their customers, uncompromising about success rates, and demanding flexible payment technologies that can enable masterful customer experiences. Precium is excited to build on our position – now as a global category leader – to help merchants get more from their payment capabilities,” concludes Dunn.
