Catering to the growing demand for the crypto-based subscription payment model, Revuto has raised $1.7 million from leading investors to continue developing its innovative solution for the Cardano network.
Fresh Funds Accelerate Work Of Cardano’s First-Ever dApp
As more and more online businesses are gradually accepting cryptocurrency for memberships and subscriptions, the demand for robust subscription payment solutions is on the rise. Addressing this demand, Revuto, a blockchain startup, is developing an easy-to-integrate decentralized payment solution for the Cardano network.
The app, currently in development, will allow users to control their subscriptions and leverage recurring crypto payments. Owing to its promising features and benefits, the team behind Revuto has successfully concluded its private funding round, raising $1.7 million.
Led by BlackDragon, one of the leading blockchain investors, Revuto’s private funding round ahead of its scheduled public token sale attracted several prominent VC firms and private investors. Demand was so robust that Revuto wrapped up its funding round in less than a week while amassing upwards of 1 million sign-ups within 14 days.
BlackDragon is proud to be a part of this revolutionary concept and has high hopes from the team behind Revuto. A spokesperson for BlackDragon VC commented, “Their stellar team has shown unparalleled growth in a very short time – and we’re excited to join the team in this journey and support Revuto and their native token REVU. We invest hours of dedicated research to provide our community with the average ROI of 40x – and Revuto is exactly what we are looking for.”
Revuto’s novel dApp is aimed at helping users save money by allowing them to take control over what, when, and how they pay for their subscriptions. The app leverages Cardano native tokens and DeFi to support high-volume transactions at the lowest costs, supporting several subscription models, including online movie and music, household items, foods, and more.
With a large community of users already registered for the upcoming REVU token sale and the huge success of its recent private funding round, the Revuto team is looking forward to a successful launch of their app.
Revuto will commence its token sale on May 18 via its platform. The REVU token can be used to balance rewards within the Revuto ecosystem and unlock additional options and benefits. It will also offer staking incentives and be applied to microlending in Revuto dApp.
Josipa Majic, CEO of Revuto, adds, “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 investor that backs our long term vision is crucial, hence we are delighted to achieve this milestone and excited for times ahead.”