Riovic Capital Group, or simply Riovic, is a financial technology company and private equity holding company that provides a platform that lets private companies discover

private equity funds A private equity fund (abbreviated as PE fund) is a collective investment scheme used for making investments in various equity (and to a lesser extent debt) securities according to one of the investment strategies associated with private equity. ...

, raise capital, manage their capitalization tables and manage shareholder and

investor relations Investor relations (IR) is a strategic management responsibility that is capable of integrating finance, communication, marketing and securities law compliance to enable the most effective two-way communication between a company, the financial com ...

. The company entered the market as an insurance technology platform that connected private investors with insurance seekers, allowing the investors to backstop claims in exchange for premiums, but expanded to other areas in financial technology. In September 2015 the company officially launched a money transfer service called RiovicPay to help people access cross-border money remittance services on holidays and after hours. The service was rebranded to AfricanRemit. It then released its on-demand platform for financial services, labeled the ''Uber of Finance,'' in November 2015. The platform provided financial advisers, crowd investing and Peer-to-peer insurance. In 2016 the company was labelled the

Lloyd's Lloyd's of London, generally known simply as Lloyd's, is an insurance and reinsurance market located in London, England. Unlike most of its competitors in the industry, it is not an insurance company; rather, Lloyd's is a corporate body gove ...

of FinTech and successfully launched this revised model to eliminate insurance companies in the insurance value by directly connecting brokers and consumers with risk capital. Also labelled the "Uber of Insurance", Riovic pioneered "private investor backed insurance" where a private investor (or group of private investors) essentially steps into the financial shoes of the insurer, accepting a stream of certain cash flows in exchange for an uncertain future liability. Riovic acquired a minority stake in New Zealand's PeerCover in February 2016. Riovic was admitted into RMIH Alphacode, an incubator for next generation financial services companies (similar to Level39) in 2015. It was also part of the first batches of Facebook FBStart,

Microsoft for Startups Microsoft for Startups, formerly known as Microsoft BizSpark, is a Microsoft program that provides support, Azure credits and free licenses to selected Microsoft products to software Software is a set of computer programs and associated do ...

, IBM Global Entrepreneurs and Google Launchpad. In April 2016, it got nominated as the only insurtech company in the African FinTech Awards and also go listed on the African FinTech 100 list.

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* * * * {{Navboxes , list = {{Witwatersrand companies {{Private equity and venture capital Financial technology companies Technology companies of Africa Companies based in Johannesburg Financial services companies of South Africa Information technology companies of South Africa Financial services companies established in 2015 Technology companies established in 2015 Peer-to-peer South African brands Hedge funds Investment funds Funds Institutional investors Investment companies Investment banks Private equity firms Private equity companies of South Africa Venture capital firms Alternative investment management companies

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