Backed By BlackDragon, Revuto Raises $1.7 Million To Build The First-Ever DeFi App For Cardano

In its recent private funding round, blockchain startup Revuto raised $1.7 million from top investors to continue building its innovative crypto-based subscription payment model for the Cardano ecosystem.

Revuto To Launch dApp For Subscription Payments

Until now, there has been no way to pay vendors on a recurring basis with crypto due to several limitations. However, Revuto is set to disrupt the industry with its first-ever dApp offering a crypto-powered solution for subscription payments.

Built on Cardano’s highly- scalable network, the dApp will transform your digital wallet into a digital bank, allowing you to set up recurring crypto payments across several platforms. The team behind Revuto brings the unique concept of giving your digital assets the same utility as that of fiat currency so you can use them to pay for real-world necessities. 

Revuto’s innovative idea has attracted some of the most prominent VC firms and private investors from the blockchain universe. Backed by BlackDragon VC, Revuto has raised $1.7 million from its recent private funding round. Currently, in the development phase, the app is designed to simplify subscriptions and give users more control over their spending. It has already created much hype among users, garnering over a million sign-ups within two weeks.

BlackDragon VC is delighted to be a part of this innovative solution and is highly optimistic that the project will be a roaring success. They 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.”

By combining the utility of fiat currency and the cost-effectiveness of cryptocurrency, the dApp is poised to deliver significant value to users. Josipa Majic, CEO of Revuto, commented, “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. Having the right funding and investor that backs our long-term vision is crucial, hence we are delighted to achieve this milestone and excited for times ahead.”

Dubbed as the next logical step in the evolution of cryptocurrencies, Revuto is the first dApp built on the Cardano network. Its core functionality revolves around helping users pay for real-world expenses using cryptocurrency. Revuto will begin the public sale for its native REVU tokens on May 18. By staking REVU, users can generate yields by providing liquidity to its protocol and open the door to extra rewards.

Image Sourced from Pixabay