Revuto Closes $1.7M Private Round Ahead of Public Sale

FinanceFeeds Editorial Team

Revuto, the blockchain ecosystem optimized to save users money on subscriptions, has just raised $1.7 million in a private round. The blockchain startup is the first dApp on Cardano and features a native Revuto Virtual Debit card for paying subscriptions with Cardano-native tokens. The Revuto app will support all recurring payments and has been designed to handle high transaction volumes at low cost.


Reinventing the Subscription Economy

The subscription economy is booming, but with so many moving parts, users often find themselves in a tailspin of payments they are unaware of or unable to manage. Thanks to Revuto, there is a dApp that will restore some sanity to this rapidly-evolving ecosystem.

The startup’s native token, REVU, is distributed back to users for utilizing Cardano-native tokens to pay subscriptions. The REVU token can be staked to earn yield, allowing users to get a loan in stablecoins to pay for subscriptions as well.

REVU will serve as the primary tool of the Revuto ecosystem which is based on micro-lending and borrowing to give users value back from their subscription services. REVU also acts as a governance token through holding and unlocks various features and benefits within the dApp.

Blockchain VC Leads Private Round

The private round concluded before Revuto’s public sale on May 18 was led by BlackDragon Venture Capital. The round lasted a week with many investors desiring a place in Revuto’s vision of bringing blockchain accessibility to a non-crypto literate market while onboarding crypto natives onto the Cardano ecosystem.

BlackDragon commented: “Revuto has shown unparalleled growth in a very short space of time and we’re excited to join its team in this journey and support Revuto and its native REVU token.”

More information on the Revuto public sale can be found here. The May 18 event is the first of two Early Bird sales which will comprise 11% of all of tokens being issued.

Revuto will hold 53% of the supply, as 6% has been sold in private round fundraising, 26% of the tokens will be available in early bird and community sales, and the remaining 15% will be held by the team and advisors. The total supply of REVU will be hard-capped to 280,125,000.

REVU trading will be available in the Revuto dApp through integrations with crypto exchanges and will only be available in the REVU/ADA pairing. Once implemented, Revuto’s native ERC20 converter will bring wrapped REVU (wREVU) to the Ethereum network, allowing users to trade it on decentralized exchanges like Uniswap or SushiSwap.

Read this next

Retail FX

ThinkMarkets expands CFDs lineup to over 4000 ETFs and shares

ThinkMarkets has expanded its service offering by incorporating 2500 new CFDs on shares and ETFs on its ThinkTrader platform.

Retail FX

France regulator warns investors of Omega Pro,

France’s financial markets regulator alerted investors that scams related to Omega Pro Ltd are beginning to circulate, with the blacklisted firm capitalizing on the situation to run a range of “unrealistic” offers.

Digital Assets

Web3 platform Grand Time paid $2 million in token earnings to date

Community-driven Web3 platform Grand Time said its offering – which includes a multifaceted platforms and its native token – has been gaining significant traction highlighted by impressive operational metrics.

Institutional FX

FX volumes at MOEX halved in April as ruble gains gorund

Currency trading at Moscow Exchange (MOEX) halted its upward route in April as monthly volumes nearly halved from a month earlier.

Digital Assets

FTX US adds stock trading, fractional shares to crypto platform

FTX US, the American subsidiary of crypto exchange FTX has kicked off stock trading feature to its customers in an effort to compete with popular platforms such as Robinhood and eToro.

Industry News

UK FCA empowered to remove brokers’ permissions in 28 days

Businesses with permissions they don’t need or use, risk misleading consumers. These new powers will enable us to take quicker action to cancel permissions that are not used or needed.

Industry News

CFTC charges $44m Ponzi scheme but millions may have fled to foreign crypto exchange

The CFTC alleged that defendants transferred millions of dollars to an off-shore entity that, in turn, may have transferred funds to a foreign cryptocurrency exchange. None of these funds were returned to the pool.


Saxo Bank deploys Adenza to address Basel and EBA requirements

The integration of ControllerView will enhance Basel-driven capital calculations and reporting at Saxo Bank in support of the bank’s multijurisdictional capital and liquidity reporting requirements throughout Denmark, Switzerland and UK, with plans to expand into the Netherlands.

Executive Moves

ComplySci appoints CTO, CPO, and CLO to further regtech’s product expansion

ComplySci offers compliance software used by more than 1400 global institutions to identify risk and address regulatory compliance challenges.