Revuto secures $1.7 million in private sale
Subscription management service Revuto has secured $1.7 million from a private round of fundraising. The round was led by BlackDragon VC and a bevy of angel investors who rallied to support Revuto's drive towards launching on the Cardano network.
Cardano is a newcomer to the blockchain scene and will feature Revuto as its first decentralized app, or dApp, on its network. The Cardano network promises to be a powerful tool for processing high volume transactions at low costs, and Revuto will create the possibility for users to unlock the potential of their cryptocurrency into something of value in the real world via payments for subscription services.
A New Crypto-Based Payment Model
Every service advertises that they are on the forefront of technology and serve all of their customers' needs. Of course, when calling customer service means being put on hold and listening to elevator music from three decades ago, it never really feels like large multinational corporations have really entered the 21st century.
Revuto helps companies that provide monthly billed services a gateway to the crypto economy, and allows their users to finally use crypto for things other than trading against other cryptos. The acceptance of cryptocurrency as a payment method has slowly gained adoption with Visa and PayPal, but the accounting departments at the phone company haven't quite warmed up to crypto yet, which is where Revuto comes in.
Engaging a New Generation of Consumers
Right now, a large number of customers are kept from easily paying for services because companies haven't adjusted to today's trends. The millennial working for a crypto startup who gets paid in crypto has to go through tons of steps in order to turn that into fiat currency for Netflix to accept it. With Revuto, anyone can convert the crypto they hold into REVU by swapping for it in a DEX, and then use that REVU to make payments to Netflix.
Revuto is creating a
bridge between companies who are lagging behind the times and the customer base
that wants to use their services but are turned off by how complicated making
payments seems to be these days. It might seem like a small step to take to
open a bank account and get a debit card in order to pay for streaming content,
but that's a few too many for a generation that knows it is one Google search
away from finding shows to watch for free.
Revuto Simplifies Service Payments for Users
A new service economy has sprouted in the digital age. Just about anything can be ordered with the press of a button: a ride to the mall, a month of access to movies and television shows, and even daily necessities like toilet paper and cleaning products can be home delivered with a recurring monthly payment. It's great to have all of these choices, but it's not so great having to juggle the payments for all these services.
Amazon has yet to own absolutely everything, so this means consumers must choose from a wide variety of service providers if they want rides, crime dramas, and toiletries. This means each provider needs access to a bank account or credit card, and it means that billings are going in and out of these financial instruments whenever these companies feel like it's the right time to apply their fees.
Keeping Customers Happy Keeps Them as Customers
Keeping track of all these payments can be a real headache, especially when you want to freeze or cancel a subscription. It's almost easier to cancel a credit card and wait for the services you want to come back begging for your new card number than it is to responsibly deal with every customer service agent or website.
Revuto provides users a sensible way to manage payments to all of their services through its app's interface. People can just open Revuto and choose which services they'd like to use, which ones don't, and that's it. They can pause payments and start them again from the same app, and this makes people more likely to continue using a service after they've made that pause.
Users can avoid all the
lovely surprises waiting for them on their next credit card bill when they
forget to cancel a trial subscription. Revuto makes sure the trial remains a
trial, not a contract wandered into accidentally for a year's worth of cheese
deliveries. No one likes the company that tricked them into a yearly contract,
and Revuto will help maintain a healthy relationship between consumers and
companies well into the future.
