A FinTech that purports to help customers earn on their savings without changing banks has just closed a new funding round.
About Rivo and Its Funding Round:
This week, Rivo announced that it had raised $2.7 million. The seed round included participation from South Park Commons, Wisdom Ventures, Script Capital, 645 Ventures, 20VC, and angel investors. To date, the company has now raised $3.1 million. Plus, this latest funding coincides with the company launching out of its beta phase.
Rivo is a service meant to help households earn more on their idle cash. Users can connect their existing bank accounts to the platform, which will then monitor their cash flow. From there, Rivo will use available cash to purchase U.S. government Treasuries, which earn a higher yield and are SIPC-insured. However, funds are then returned to customers’ accounts before bills are due, allowing users to earn more without changing their money-management behaviors. Additionally, customers can move money back to their bank accounts at any time (although transfers may take 2 to 5 business days to complete).
With this product, Rivo says that it’s targeting the “Inertia Tax,” which is the delta between what customers earn on checking balances versus the revenue banks make from those deposits. For example, the average checking account balance as of June 2026 earned just 0.07% while banks earned as much as 3.6%.
As mentioned, Rivo is now out of beta, and customers can sign up for the service at RivoFI.com.
What They’re Saying:
Explaining the idea behind Rivo, the company’s founder and CEO Ambrish Tyagi said, “Most people aren’t ignoring their money; they’re busy, and the system was designed to profit from that. Recommendation engines tell you what to do, but Rivo does it for you, every day, without needing your attention.”
Meanwhile, South Park Commons General Partner Aditya Agarwal said of the FinTech, “Ambrish and the Rivo team are working on a problem almost every consumer has, and almost no one notices. Rivo stood out because the product does not stop at advice. It moves real money, manages edge cases, and has to earn trust through execution.”
My Thoughts:
Obviously I can’t speak to how well Rivo actually works or whether it’s a solid investment… but I love the idea overall. Personally, I know I have more in my checking account than I should, but moving it to a savings account takes effort and forethought. So, if I could just sign up for a service that’s smart enough to put my excess cash to good use, that sounds like a big win!
Of course, before I try it for real, I’ll definitely need to do more research. But if Rivo can deliver what it’s promising, color me very interested.
