Revuto, the decentralized subscription bundling service, has concluded a $1.7 million private round of funding. The sale of its REVU token will help Revuto become the first dapp released on the Cardano blockchain. Revuto has also amassed 1 million sign-ups over the course of two weeks prior to its launch.
BlackDragon VC led the private round of funding that also included angel investors in the roll call. Demand for participation in the round attests to Revuto’s financial viability and long-term potential, and its dApp will use the funding to better secure its vision for changing the way consumers pay for subscriptions.
Stage Set for Revuto App Launch
“We’re grateful to our private investors, including BlackDragon, for believing in Revuto’s team and tech, and for sharing our vision of making crypto spendable in everyday life,” said Revuto CEO Josipa Majic.
“With a large community having assembled around Revuto already and registered their interest in participating in the REVU token sale, the stage is set for a successful launch of the Revuto app. This will bring crypto-powered subscription payments to a global audience, giving digital assets the same utility as fiat currency.”
BlackDragon issued a statement concluding that, “Revuto has shown unparalleled growth in a very short space of time and we’re excited to join its team in this journey and support Revuto and its native REVU token.”
Growth in Cryptocurrencies Drives Mainstream Use
A growing number of major corporations around the world are now accepting digital currencies as a form of payment. Media sources like TIME Magazine, payment processors like Visa and PayPal, and even Starbucks have announced their acceptance of crypto as payment within the recent past.
This growth of crypto payments across industries will continue as new players in the market such as Revuto open the doors to crypto payments to a wider audience. This recent capital injection for Revuto will help the dApp progress towards its goal of becoming one of the leaders in retail services accepting crypto for payment.
Reimagining Subscription Payments
Customers have become weary of dealing with subscriptions from companies that charge them when they don’t want to use their services. With Revuto, customers will have the ability to control how and when they pay for their monthly billings.
Revuto users can sign up to use the Revuto debit card or use its built-in wallet to keep track of and spend their REVU tokens on the services they want to spend money on. This is a huge departure from the current situation most users are stuck in with multiple bills landing in their inbox from every service they currently use.
Along with multiple bills come multiple payments from multiple cards old and new. Users will never have to worry about card cancellations or transferring accounts when cards expire, because the REVU tokens they use to pay for services can always be kept safely in their Revuto Wallet or staked on the site for even more rewards and discounts.
High Transaction Volume at Low Cost Is Key
With the launch of the first dApp on the Cardano blockchain, Revuto’s focus will center on cost reduction and creating an easy user experience for its customers. Cardano’s cutting-edge technology and lightning fast network allows Revuto to be able to do this at affordable prices and high volumes. The symbiotic nature of this partnership remains key to achieving a consumer future where crypto and blockchain use cases make life easier for everyone.