Revuto, a subscription management service accepting crypto payments, has raised $1.7 million in a private sale. The round was led by BlackDragon VC and included a series of angel investors who contributed to the haul over the space of a week.
Revuto is now preparing for a launch on Cardano as the first dApp to run on the new blockchain. Revuto can count this sale as yet another feather in its cap after gaining over 1 million pre-launch sign-ups based on referrals over a two-week period.
Driving Cryptocurrency Mainstream
Delighted by the recent turn of events, Revuto CEO Josipa Majic said, “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. Having the right funding and investors that back our long term vision is crucial, and thus we are delighted to achieve this milestone and are excited for what lies ahead.”
The use of cryptocurrency as payment for services has been limited to a few vendors who have taken the risk of accepting the digital currencies, comprising local businesses for the most part. With Revuto’s token payment option, a wide range of digital assets can be converted into payments for services from companies that otherwise would not accept crypto.
For example, if a user needs to pay their phone bill and has some unwanted crypto in their wallet, they can exchange this crypto for REVU via a DEX , and voila, they now have an acceptable method of payment for data credit.
Commenting on their one million sign-ups and Revuto’s ability to empower these users with the ability to spend crypto more widely, Majic commented that, “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.”
Users can also stake their REVU tokens with Revuto in order to gain rewards in the form of more REVU tokens, discounts on services, and access to premium features and benefits.
Improving User Experience with Multiple Providers
Revuto helps solve a major problem for users of crypto by allowing them to use their digital assets in a real way and translate their value into tangible returns such as the ability to watch their favorite streaming content. Additionally, Revuto takes the hassle out of dealing with the variety of services people use these days.
Consumers have been burnt so many times by letting their subscriptions run too long when they no longer need a service but forget to cancel their initial agreement. These subscriptions can last until every penny has been drained from an account, and there’s no way to easily get back these funds.
Even when conscientious consumers keep track of every cent they spend, having to deal with multiple vendors, and having to remember multiple usernames and passwords for each service can cause major headaches.
Revuto makes dealing with subscription services easier by putting everything users need to manage their payments into one convenient app. Having to wait on hold for half an hour in order to beg a customer service agent to pause a subscription for a month will be a thing of the past using Revuto. Users can turn on or off their subscriptions with the press of a button, and be sure they’ll never again face an infinite loop of lifetime payments.