Blockchain powered technology startup Riva raises $3 million in funding round led by VC firm Project A

Riva Money, a payments firm using blockchain technology with the aim of streamlining the movement of money, has raised a $3 million pre-seed round from Project A as well as angels from Revolut, Monzo and J.P. Morgan.

It will use the cash to expand its operations and roll-out globally, including Europe, Asia and North America, as well as expand its engineering team.

The startup was founded by Niklas Hoejman and Mahendra Katoch, two FinTech professionals with expertise in cross-border payments, who worked at Revolut and Wise, as well as Goldman Sachs and Citigroup.

Even while working for payment innovators, they saw how legacy systems still caused delays, inflated costs, and offered limited transparency, often making the client experience frustrating and opaque. As expats and regular users of international payment services, they also felt these limitations personally.

Riva leverages blockchain technology - with stablecoins as a key application - to power infrastructure for international payments. Depending on what is most effective for the client, transfers will be routed either via blockchain-based rails or through traditional fiat-to-fiat rails.

It is currently in the process of obtaining authorisation as a payment institution across the UK and the EU, as well as MICA and VASP licences in the EU and Switzerland.

Hoejman says: “Our mission is simple: to enable businesses' limitless global money movement, instantly and at a fraction of the cost. By combining blockchain technology with a robust regulatory framework, we’re building a solution that offers businesses the speed, transparency and cost-efficiency they need to thrive in today’s interconnected economy.”

Malin Posern, Partner and Managing Director at Project A, says: “"With stablecoin adoption accelerating and regulatory frameworks maturing globally, the time is right for an infrastructure rethink. Riva's dual-rail system for businesses elegantly solves for both speed and flexibility in a market that's still reliant on legacy processes. Niklas and Mahendra's deep expertise in payments and financial markets positions Riva perfectly to build the next generation of payment services."

2025 RTIH INNOVATION AWARDS

Payments will be a key focus area at the 2025 RTIH Innovation Awards.

The awards. which are now open for entries, celebrate global tech innovation in a fast moving omnichannel world.

Our 2024 hall of fame entrants were revealed during an event which took place at RIBA’s 66 Portland Place HQ in Central London on 21st November, and consisted of a drinks reception, three course meal, and awards ceremony presided over by comedian Lucy Porter.

In his welcome speech, Scott Thompson, Founder and Editor, RTIH, said: “The event is now into its sixth year and what a journey it has been. The awards started life as an online only affair during the Covid outbreak, before launching as a small scale in real life event and growing year on year to the point where we’re now selling out this fine, historic venue.”

He added: “Congratulations to all of our finalists. Many submissions did not make it through to the final stage, and getting to this point is no mean feat. Checkout-free stores, automated supply chains, immersive experiences, on-demand delivery, next generation loyalty offerings, inclusive retail, green technology. We’ve got all the cool stuff covered this evening.”

“But just importantly we’ve got lots of great examples of companies taking innovative tech and making it usable in everyday operations - resulting in more efficiency and profitability in all areas.”

Congratulations to our 2024 winners, and a big thank you to our sponsors, judging panel, the legend that is Lucy Porter, and all those who attended November's gathering. 

For further information on the 2025 RTIH Innovation Awards, please fill in the below form and we will get back to you asap.