Delaware-based neobank Rizon, which lets users send, spend, and save US dollars globally, has raised $2 million in pre-seed funding from Polish VC Market One Capital to expand into new markets and grow its user base, as Vestbee was informed.
- Launched by Ignas Survila, Rizon provides global US dollar accounts for sending, spending, and receiving funds. Active in 122 countries with over 170,000 app installs, Rizon has seen transaction volumes grow 245% month-over-month, with user retention rates exceeding industry norms, more than a third of users return within the first week, and nearly half remain active after 30 days.
- Rizon’s platform issues Visa cards accepted at over 100 million merchants and ATMs worldwide, allows international transfers at up to 86% lower costs than traditional providers, and helps users avoid hefty foreign transaction fees. The neobank primarily serves solopreneurs, freelancers, and remote workers paid in US dollars, offering a borderless alternative to conventional banking.
Details of the deal
- The fresh round saw support from Market One Capital, a Polish venture capital firm that backs “platforms of tomorrow” and provides strategic support, resources, and guidance to help its portfolio companies grow.
“Digital dollars have been booming in popularity, but until now, using them in everyday life was surprisingly hard. We believe that in the next decade, we’ll see several billion-dollar or even trillion-dollar companies built around global dollar banking. From what we see, Rizon may well be among the first of them, they have a unique and deeply user-centric distribution approach, and they’ve already shown early proof of successful execution. That’s what made us want to get involved," said Jacek Lubiński, Partner at Market One Capital.
- Rizon plans to use the new $2 million pre-seed funding to expand into additional markets and accelerate growth of its global user base, while continuing to develop and enhance its digital dollar banking platform so freelancers, remote workers, and internationally paid users can more easily access, send, and spend US dollars worldwide.
