Revolut and Wise alumni raise $3 million for blockchain payments startup

Riva was founded by Niklas Hoejman and Mahendra Katoch, who previously worked at Revolut and Wise, as well as Goldman Sachs and Citigroup.

Their startup applies blockchain technology — with stablecoins as a key application — to power infrastructure for international payments. Depending on what is most effective for the client, transfers will be routed either via blockchain-based rails or through traditional fiat-to-fiat rails.

Co-founder and CEO Hoejman, says: “By combining blockchain technology with a robust regulatory framework, we’re building a solution that offers businesses the speed, transparency and cost-efficiency they need to thrive in today’s interconnected economy.”

As a first step, Riva is currently in the process of obtaining authorisation as a payment institution across the UK and the EU, as well as MiCA and VASP licences in the EU and Switzerland.

Hoejman says the new funding will also be used to expand its engineering team in preparation for a global roll out across Europe, Asia and North America.