South Africa crypto investment platform Revix has just secured $4 million (R58M) in offshore capital. The investors are yet to be disclosed. The funds will go towards the launch of a mobile application, hire more local talent,and expand operations to the European Union.
Three-year-old Revix is based in Cape Town and London and was founded by Louis Buys and Sean Sanders. It was a participant at the Berkeley Blockchain Xcelerator and Wave 2 of Qatar’s FinTech Hub Incubator and Accelerator Programme.
Two years ago Revix secured $800,000 from Sabvest, a JSE listed investment holding company in an investment that earned Sabvest a 30% interest into Revix. The funds were channeled to the development of a digital asset management portal.
In a statement, Sean Sanders. the CEO Revix aimed to “blur the lines” of investing in traditional asset classes such as stocks, 5G, biotech, AI, e-sports, cryptocurrencies, and 5G. The company also helps users access behavioral loyalty and rewards programmes where people earn redeemable bitcoin points.