A private sale by subscription payment startup Revuto, led by notable investors such as BlackDragon VC, has raised $1.7M in a week.
As stated by BlackDragon, “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.”
Fixing Up the Subscription Economy
Revuto is Cardano’s first dApp and seeks to provide a painless, low-cost subscription management service for tech-savvy individuals, crypto natives, freelancers and businesses alike. It is built on the Cardano blockchain, a third-generation blockchain that builds upon Bitcoin’s decentralization and Ethereum’s smart contracts by offering unparalleled scalability.
The dApp will send push notifications that will allow users to block, approve or snooze subscriptions through the dApp. It is designed to be painless and inexpensive with a 4% transaction fee for free users and €12/month pro subscription with 4% cashback.
Josipa Majic, Revuto’s CEO, has noted that the subscription economy is growing 100% YoY and that the industry is here to stay. However, it is plagued by cumbersome cancellation processes that result in recurring losses for subscribers.
That’s why the goal of Revuto is to ensure that nobody has to pay for subscriptions that they no longer want to use. Revuto seeks to provide necessary tools that will support cryptocurrency as the future of money. This nuclear combination of utility and powerful technological tools is why Revuto has garnered explosive demand.
1 Million Sign-Ups Already
“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,” said Revuto CEO Josipa Majic. “Having the right funding and investors that back our long-term vision is crucial, and thus we are delighted to achieve this milestone and are excited for what lies ahead.”
Within 14 weeks of launching its referral program, Revuto has seen a record 1 million subscribers.
Josipa Majic added:
“With a large community having assembled around Revuto already and registered their interest in participating in the REVU token sale, the stage is set for a successful launch of the Revuto app. This will bring crypto-powered subscription payments to a global audience, giving digital assets the same utility as fiat currency.”
Revuto’s first public token sale began on May 18 at 8:00 am UTC and is also Cardano’s first-ever token sale. To commemorate the event, Early Bird Tier 1 participants will be awarded with limited edition Revuto NFTs.