Embedded finance platform Alviere lands $70m in funding
New York-based fintech start-up Alviere has raised $70 million across two funding rounds to help fuel its international expansion plans.
The firm has announced it secured a $20 million cash injection through a Series A round in April led by Viola Ventures and Viola Fintech, followed swiftly by a further $50 million investment in a subsequent Series B round this month.
This latest round saw participation from existing investors Viola Ventures, Viola Fintech, CommerzVentures and North Coast Ventures as well as Opera Tech Ventures, the VC arm of BNP Paribas.
Alviere’s embedded finance platform ‘The HIVE’ allows companies to embed financial services including bank accounts, debit and credit cards and money transfers into their businesses.
It claims all the fintech offerings in HIVE are protected by AI-based security, fraud protection, a compliance and risk management programme and regulatory licencing.
The company says the latest funding will strengthen its go-to-market strategy as well as fuel its expansion beyond North America to Europe and Latin America.
Alviere CEO and co-founder Yuval Brisker says the firm’s decentralised offering means brands can easily launch a new line of financial services through a single API.