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SA-based crypto company Revix raises $4m ahead of move into EU market

Is partnering with a bank to target German-speaking Europe as its first step.
Most staff will still be based in SA, with around 10% of the Revix team based in London and Frankfurt. Image: Chris Ratcliffe, Bloomberg

It was all done on Zoom calls with no in-person meetings. That’s how smooth the latest $4 million fund raising call from crypto investment company Revix went.

Revix is one of SA’s stand-out crypto successes, and now it plans to replicate that success abroad, starting with German-speaking Europe.

Most of the capital raised will be deployed to its European expansion. Some 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.

“Some 90% of our staff will still be based in SA, with the rest in London and Frankfurt.”

Affordable investing

Revix made it possible for South Africans of limited financial means to enter the crypto market by completely by-passing 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 12 months from 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 in an effortless way,” 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.

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I really enjoy following the Revix success story. Ultimately providing cost effective access to individuals is a win in my book.

In terms of the underlying investments themselves, that is open to debate, however the thematic investing themes is a promising growth area.

Bring it on. Just what the doctor ordered

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