Embedded Finance Startup Alviere Raises $70 Million, The Largest Investment In The Emerging Sector So Far

Alviere, a leading embedded finance startup enabling any brand to deliver financial products and services to its customers and employees, announced, today, that it has secured $70 million of new funding.

In April, the startup raised $20 million in a Series A led by Viola Ventures and Viola Fintech, with the participation of CommerzVentures, Mitsubishi Capital Corporation, Wix.com Capital, Draper Triangle Ventures, Cross River Bank Capital, CERCA Partners and others.

The New York-based company has now added another $50 million investment in a follow-on Series B round. Unidentified institutional fintech investors led the latest financing round, with the participation of existing investors including Viola Ventures, Viola Fintech, CommerzVentures. North Coast Ventures and Opera Tech Ventures also participated. In total, Alviere has raised a total of $70 million since its launch, the largest investment in the embedded finance sector so far.

You might be wondering what embedded finance is. Simply put, embedded finance allows you to pay for a purchase online without entering bank details or instantly take out a consumer loan on digital platforms outside banks, among many other options. It is designed to streamline financial processes for consumers, making it easier for them to access the services they need when they need them.

Alviere offers a complete embedded finance platform available that is empowering global brands to provide financial services to their customers for the first time. “With Alviere’s industry-leading technology and expertise, brands who never considered the idea, can now launch a highly lucrative, immediately profitable new line of business. Our embedded finance solution can easily and quickly deliver ‘everything personal finance’ to your customers, deepening customer relationships and insights while dramatically increasing bottom-line revenue.” Yuval Brisker, Chief Executive Officer and Co-founder of Alviere, said.

According to him, partnering with Alviere to utilize embedded finance services is a fast, low risk, low friction way for established companies to realize entirely new revenue streams. Brands can now easily offer their customers any of the financial services currently available in Alviere’s HIVE through one simple API. In addition to this, users don’t have to worry about security breaches, as all of  Alviere’s offerings in HIVE are protected by AI-based security, fraud protection, a robust compliance & risk management program and regulatory licensing.

The company’s embedded finance platform, the HIVE, provides an array of services which include: Direct Deposit FDIC-Insured Checking and Savings Bank Accounts Debit, Credit, Prepaid Cards, Gift Cards, Loyalty Solutions, Payment Services, Cash Pickup and Deposit, Domestic and International Money Transfer (Peer-to-peer remittance and beyond), and Currency Exchange. 

Talking about the investment Omry Ben David, a General Partner at Viola Ventures said: “The embedded finance revolution is shifting the face of banking, lending, and insurance away from traditional centralized big players to new entrants, led by established consumer brands and enterprises. We partnered with Alviere because we believe in the immense market potential of this emerging market.” He continued: “We looked far and wide, and when we discovered Alviere, we knew that this company’s team, product maturity and live deployments with Tier 1 multi-billion dollar brands differentiate it from anyone else in the market by a huge margin.”

With the new funds, the company plans on accelerating its go-to-market plans, as well as expanding beyond North America to Europe and Latin America.