FINTECH

Alviere, a Global Fintech Startup, Raises $70 Million Driven by Company’s Rapid Traction in Embedded Finance

Alviere | October 26, 2021

Alviere, a Global Fintech Startup, Raises $70 Million Driven by Company’s Rapid Traction in Embedded Finance
Alviere, the leading embedded finance platform enabling any brand to deliver financial products and services to its customers and employees, today announced that it had raised $70 million of new funding, the largest investment in this emerging sector of fintech to date.

In April, Alviere closed a $20 million Series A led by Viola Ventures and Viola Fintech, with the participation of CommerzVentures, Mitsubishi Capital Corporation, Wix.com Capital (NYSE: WIX), Draper Triangle Ventures, Cross River Bank Capital, CERCA Partners and more.

With the momentum Alviere has seen in the adoption of The HIVE, its embedded finance platform, the company quickly added another $50 million investment in a follow-on Series B. This latest round was led by prominent institutional fintech investors and includes the participation of existing investors Viola Ventures, Viola Fintech and CommerzVentures, as well as Cleveland-based, North Coast Ventures. This round also includes Opera Tech Ventures, the VC arm of BNP Paribas. This capital will be used to accelerate Alviere’s go-to-market plans as well as expand beyond North America to Europe and Latin America.

“Embedded finance technology is taking the decentralization of financial services to another level. Now any brand with an existing customer base - be it a telco, a retailer, a software company, a marketplace, or an automotive company - will be able to deliver a robust array of financial products and services to its customers,” said Yuval Brisker, CEO and co-founder of Alviere. “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.”

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.

All of the fintech offerings in HIVE are protected by AI-based security, fraud protection, a robust compliance & risk management program and regulatory licensing. The financial services that Alviere’s HIVE enables
brands to embed in their business 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)
  • Currency Exchange

“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. 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.”

 
Omry Ben David, General Partner at Viola Ventures

Brisker, a serial entrepreneur, was previously the founder and CEO of TOA Technologies (TOA), an early leader in cloud-based enterprise software. TOA’s solution was an innovator in the application of machine-learning to better manage and optimize the last mile of customer service in field service for tier one enterprises worldwide with customers like Telefonica (NYSE: TEF), Virgin Media, Dish Corp. (NASDAQ:DISH), Bosch Siemens, Foxtel, Home Depot (NYSE: HD), Liberty Mutual and more.

TOA was acquired by Oracle in July 2014 and is now known as Oracle Field Service.

Alviere’s funding comes at a time when embedded finance is expected to grow worldwide to become a $7.2 trillion market by 2030, according to a forecast from Simon Torrance. Last year, the Banking-as-a-Service market alone was valued $356 Billion in 2020, according to Verified Market Research.

About Alviere
Alviere provides the most complete embedded finance platform available today, empowering the world’s most visible, trusted and beloved brands to offer financial services to their customers for the first time. Alviere’s easy, powerful and future-proof platform and associated services allows any business to launch a new financial services line of business to dramatically increase profits, deepen customer relationships and insights, and increase satisfaction and retention.

Spotlight

ESG investing has grown exponentially in the last decade and is estimated to be somewhere between 35.31 to 40.52 trillion USD (according to the GSIA, 2021, and OPIMAS, 2020). The ESG investment industry is constantly in transition, with rapid developments across ESG strategies, approaches, and technologies reshaping the industry towards best standards of practice.

This transition is leading to variations in the scale and growth of sustainable investment in different regions, according to GSIA. Many regions continue to see strong growth in sustainable investment assets under management – most notably Canada, the United States and Japan. Other regions are slowing down their rate of growth or have seen a reported reversal – in particular Europe and Australasia. In both cases, this is largely due to changes in how sustainable investment is defined, either by law as in the case of the EU, or by new industry standards as is the case in Australasia.

Spotlight

ESG investing has grown exponentially in the last decade and is estimated to be somewhere between 35.31 to 40.52 trillion USD (according to the GSIA, 2021, and OPIMAS, 2020). The ESG investment industry is constantly in transition, with rapid developments across ESG strategies, approaches, and technologies reshaping the industry towards best standards of practice.

This transition is leading to variations in the scale and growth of sustainable investment in different regions, according to GSIA. Many regions continue to see strong growth in sustainable investment assets under management – most notably Canada, the United States and Japan. Other regions are slowing down their rate of growth or have seen a reported reversal – in particular Europe and Australasia. In both cases, this is largely due to changes in how sustainable investment is defined, either by law as in the case of the EU, or by new industry standards as is the case in Australasia.

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FUNDING

Visa Introduces Crypto Advisory Services to help Partners Navigate a New Era of Money Movement

Visa | December 08, 2021

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PAYMENTS

Tutuka and Paymentology Create the World’s First Global Issuer-processor Spanning 49 Countries, to Form a New Payments and Card Processing Powerhouse

Paymentology | December 07, 2021

In a move upending the hottest part of the fintech market, two of the world’s leading issuer processors – Paymentology and Tutuka – are merging to create a new payments and card processing powerhouse. Operating under the Paymentology name, the merger creates a new force in payment solutions; giving banks and fintechs the technology, team and experience to issue and process Mastercard, Visa and UnionPay cards, across 49 countries. The move brings together the ultra-advanced, multi-cloud platform of Paymentology, with the global reach and experience of Tutuka. The merger creates a powerhouse of over 270 payments and technology experts, working across both developed and emerging markets, serving customers in 49 countries, across 14 time zones – and a platform that is already processing USD 10 billion in transactions each year. Previously, banks and fintechs had to work with a multitude of card processors to reach a global market. Now, through Paymentology, they can integrate into a single API, go live and issue cards almost anywhere in the world. They can then rapidly scale beyond that, as Paymentology can process client cards on the company’s shared platform, and upgrade clients to a dedicated platform just for that client, or in particular countries – a feature not available through any other processor. Banks and fintechs are racing to provide customers with digital and data-driven features. They are highly receptive to working with a single issuer-processor that can provide that, across the globe." Rowan Brewer, CEO at Paymentology “People want to be able to pay with a virtual card – sometimes online, sometimes tapping their phone – but everything digitally. Banks, digital banks and fintechs need support and expertise to help them issue cards and process payments.” About Paymentology Paymentology is the first truly global issuer-processor, giving banks and fintechs the technology, team and experience to issue and process Mastercard, Visa and UnionPay cards across 49 countries (and counting). Their advanced, multi-cloud Platform, offering both shared and dedicated processing instances, vast global presence, and richer, real-time data, set them apart as the leader in payments.

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FINTECH

Western Alliance Bank Partners with Tassat to Deliver Blockchain-Based Payments Network to Business Clients

Western Alliance Bank | December 06, 2021

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