Alviere, an embedded finance firm, issued a statement today announcing the close of a US$70 million funding round, marking one of the largest funding rounds ever in this relatively new niche of the fintech sector.
Alviere prides itself on being one of the foremost embedded finance platforms facilitating the delivery of financial offerings from various brands to their customers and employees.
Back in April, Alviere completed a US$20 million Series A led by Viola Ventures and Viola Fintech.
That round drew commitments from various investors, including CommerzVentures, Mitsubishi Capital Corporation, Wix.com Capital, Draper Triangle Ventures, Cross River Bank Capital, and CERCA Partners, to mention a few.
After seeing readiness and adoption of the HIVE (its embedded finance platform) gather remarkable momentum, the firm wasted no time to initiate and complete a US$50 million Series B funding round.
This most recent financing round was co-led by leading institutional fintech investors. It also drew commitments from returning backers, including Viola Ventures, Viola Fintech, and CommerzVentures, as well as Cleveland-based North Coast Ventures.
New investors include Opera Tech Ventures and also the venture capital arm of BNP Paribas.
With this newly available capital, Alviere plans to speed up its go-to-market plans as well as to drive expansionbeyond North America, with eyes on Europe and Latin America.
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