South African payments orchestration startup known as Revio has announced that it is rebranding to Precium.

Over the past 18 months, Precium experienced growth in its team, product capabilities, and merchant base, attracting the attention of global merchants looking to deepen their reach in African consumer markets.

“What started as a venture to provide world-class payment technologies to South African merchants has since become a platform to enable global merchants to access emerging African markets. While our operations remain firmly rooted in South Africa, more and more of our clients are companies abroad. Our rebrand aims to capture our evolution into a globally competitive payment infrastructure platform, purpose-built for enterprise scale,” says Nicole Dunn, co-founder and chief operating officer at Precium.

After announcing a $5,2-million seed investment last year, Precium tripled its monthly recurring revenue within six months. It has now extended its international reach with a pipeline of global merchants representing more than $100-million of monthly total payment volume.

“This exponential growth also attracted the interest of global businesses inside and outside of our industry with similar sounding names to Revio,” says Dunn. “After careful consideration, we decided to rebrand to future-proof our continued growth and global presence. We’ve leveraged this critical undertaking as a unique opportunity to reflect on our business and brand, and are thrilled to reintroduce ourselves as a home-grown company with an ambition to make a global impact.”

Ruaan Botha, CEO and co-founder of Precium, adds: “There is a lot of complexity and fragmentation in the payments industry, and payments companies often amplify this complexity to merchants. From the beginning, our goal was to build solutions that can simplify payment operations for merchants, and we wanted our new brand to reflect this.

“For the past two years, our team has worked closely with enterprise businesses to streamline their payment operations and reduce payment failures. Our mission remains unchanged. In this next chapter, we are deepening our capabilities to be purpose-built for enterprise scale, and further help merchants transform payments from a cost centre to a revenue enabler.”