May 15, 2021 — Blockchain startup Revuto has concluded a $1.7-million private round to support its development of a crypto-subscription payment solution. Its app has also recorded more than 1 million sign-ups in 14 days through a referral program. Starting tomorrow at 8 am UTC, the team behind Revuto will do a live event on YouTube, where it’ll announce the opening of the first public token sale on Cardano.
A number of leading blockchain investors participated in the private round on May 18, which preceded the public sale for Revuto’s native token, REVU. BlackDragon VC led the round, which also attracted several angel investors. Due to increasing demand for allocation, Revuto was able to close its private round in the space of a week.
“We’re grateful for 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 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,” said Revuto CEO Josipa Majic.
“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.”
In a statement, BlackDragon said:
“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.”
Revuto, the first decentralized application to launch on the Cardano blockchain, will demonstrate the network’s ability to support high transaction volume at a low cost. Designed for the on-demand economy, Revuto supports recurring payments for movie and music subscriptions, household goods, cosmetics, food and other types of subscription-based billing.
The REVU token will be used to align incentives between participants in the Revuto ecosystem, as well as unlocking additional features and benefits. It will also provide staking rewards and be used for microlending within the Revuto DApp. The REVU public sale will take place on Revuto’s token selling platform on May 18.
By leveraging Cardano native tokens and decentralized finance to pay for subscriptions, Revuto’s ecosystem is designed to save people money regardless of crypto market conditions. Revuto users can subscribe to services using the Revuto debit card, the built-in wallet that supports Cardano-native tokens, and the accompanying app can be used to block, snooze or approve subscription charges as they occur.
To become part of history and save your spot in the first token sale on Cardano, please visit https://crypto.revuto.com/. The public token sale round will start on May 18 at 8 am UTC. The first investors in REVU tokens will get a special surprise from the Revuto team.