Rvvup Seed Press Release
RELEASE 11.00AM CET 20/12/2021
Rvvup raises $7.5M in seed with HV Capital & Lakestar
Fintech formed of Braintree, PayPal, Ripple, Square & Airbnb alumni focusing on next generation payments infrastructure bridging CeFi and DeFi across the three generational payments use cases.
Rvvup a UK Fintech founded by former Braintree-PayPal exec David Nunn, with an experienced team including Braintree, PayPal, Ripple, Square, Airbnb, Fiserv, Depop, Ocado and Virgin Money alumni today announces a $7.5M seed investment led by HV Capital and Lakestar.
The foundational team united in the summer of 2021 to build the global infrastructure to enable the interoperability of both the centralized and decentralized financial systems, empowering billions of people with more choice, and businesses with faster settlement and lower costs.
“We believe payments is entering a new paradigm where traditional finance is meeting the Web3 future of finance, and that these will coexist for years to come. The challenge and the opportunity right now is to bridge these very different worlds, and build the interoperability to enable choice across the three generational payments use cases, from cards to open banking to crypto and everything in between." David Nunn, Founder & CEO at Rvvup.
Barbod Namini, Partner at HV Capital said, “HV is delighted to continue backing such a great team. The global financial landscape is revolutionizing, and we’re truly excited by Rvvup’s vision of bridging and enabling the three generational payments use cases”.
Nicolas Brand, Partner at Lakestar said, "Payment systems are highly fragmented across the world. Rvvup can be trailblazers in enhancing global payment infrastructure by connecting centralised with decentralised financial systems, from bank payments to crypto”.
The round was also supported by prolific crypto and fintech investors including Raffael Johnen CEO of Auxmoney, Simone Mancini CEO of Scalapay, Melody He co-founder of Spartan Group, Angel Investor Luca Ascani, Savvas Fellas CEO of MrQ.com, and Kay Van-Petersen LP/Advisor at SoGal Ventures.
With its growing team already spanning the UK, EU and the US, Rvvup will be continuing to scale over the coming months to drive forward its vision of a payments platform empowering businesses with lower costs, faster money movement and more choice for their end users.
Founded by ex-Braintree-PayPal exec David Nunn, Rvvup’s purpose is to build the global infrastructure that enables the interoperability of both the centralized and Web3 decentralized financial systems, empowering billions of people with more choice, and businesses with faster settlement and lower costs.
About HV Capital
Since 2000 HV Capital, formerly HV Holtzbrinck Ventures, has invested in Internet and technology companies through various generations of funds and is one of the most successful and financially strongest early-stage and growth investors in Europe. HV Capital has already invested in around 200 companies, including Zalando, Delivery Hero, FlixMobility, Depop and SumUp. The total of all HV Funds amounts to €1.7 billion. The company supports startups with capital between €500,000 and €50 million. This makes HV Capital one of the few venture capitalists in Europe that can finance startups through all growth phases.
Lakestar is one of Europe's leading venture capital firms investing in technology companies led by exceptional entrepreneurs. Lakestar's sector expertise includes ten years of investing into fintech where the team had the privilege of partnering with Revolut, Blockchain.com, Opendoor, Cedar, Oscar, Public.com, SoFi, Solarisbank, Uncapped, Rhino and ZEBEDEE. Lakestar has been amongst the first European VCs to have built up dedicated blockchain expertise. Current investments range from early stage companies to those in their growth stage. Visit Lakestar on LinkedIn and on the web.