Austin payments processor Rêv Worldwide brings in $5.2M financing

Oct 20, 2014
Austin Business Journal

Payments processor Rêv Worldwide Inc. reported raising $5.2 million of a planned $5.4 million financing


The Austin-based company collected the capital from 12 investors, according to a Friday filing with the U.S.Securities and Exchange Commission. The money will be used for general corporate 


purposes, President Bertrand Sosa said


Rêv Worldwide, founded in 2008 by NetSpend Corp. (Nasdaq: NTSP), develops prepaid card and mobile payments programs. The company, which employs 100 workers, operates in North America, Latin 


America, Europe and Asia-Pacific, and is affiliated with MPower Ventures LP


It has been raising funding on a regular basis during the past two years


In December 2013, the company reported receiving $5.2 million of another planned $5.4 million financing from 12 investors. The funding came weeks after it had raised $4.8 million of a 


planned $7 million round of financing from 17 investors, SEC filings show


In October 2013, founder and CEO Rogelio Sosa — Bertrand's brother — resigned for personal reasons but remains on the board of directors. He was quietly replaced at the time by director 


John Mitchell, who was previously the CEO of Rêv Worldwide's European division, RêvEurope


Print Article opens in new window