South African Crypto Platform Revix Raises $4.1 Million
The South African cryptocurrency investment platform, Revix, has reportedly raised about $4.1 million from its latest capital raise round. According to the firm, part of the raised capital will be used “to launch Revix’s mobile application, a variety of Fourth Industrial Revolution (4IR) investment opportunities.” Furthermore, Revix says it also plans to use part of these funds to finance the firm’s expansion into the European Union.
According to a report that shares details of the crypto platform’s future plans, Revix also intends to “offer a behavioural loyalty and rewards programme, where customers can earn points that can be redeemed for bitcoin.” In expanding on this, Revix founder and CEO, Sean Sanders said:
We’re building a behavioural loyalty model that incentivises investors to undertake smart investment decisions, such as diversifying their investment portfolios, growing the investment community, improving their financial knowledge and making smart long-term investment decisions, while being rewarded for doing so.
Meanwhile, a different report quotes Sanders warning South African crypto investors not to “invest beyond what they can afford to lose.” Instead, the CEO wants investors to consider allocating a small portion of their net worth towards cryptocurrencies. Sanders added:
“A small 1% to 5% allocation of your total net worth to crypto can result in significant improvement to your overall portfolio returns over the long-term.”
In the meantime, the CEO concludes the interview by advising crypto investors to consider “diversifying their stock portfolio to reduce the risks of exposure to a single stock or industry.”
What do you make of Revix’s $4.5 million capital raise? Tell us what you think in the comments section below.
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Author: Terence Zimwara