Fintech Startup Alveiere Gets $70M Funding
A newly emerging area in financial services is embedded finance. Embedded finance is also known as EmFi. This term is used when non-financial entities can integrate financial services or products into their platform using software from a third party. Usually, an API is provided by these fintech startups, and APIs are nothing but embedded finance services. Alviere is one such popular name that offers embedded finance to its customers.
What is Alviere 70M Azevedotechcrunch ?
During the Series A funding, Alviere secured financing of $20M. Six months later, the brand got $50M in funding in the Series B round. As per the latest news, Alviere has raised another $70m in the new funding round. The major investors of Alviere include Viola Fintech, Viola Ventures, Mitsubishi Capital Corporation, CommerzVentures, Wix.com Capital, BNP Paribas, Cross River Bank Capital, and some other stakeholders.
Embedded finance is a growing domain, and there is an enormous scope here. If you go through some of the articles of Mary Ann Azevedo, you will realize that she has documented many such success stories on organizations that offer embedded finance solutions. The CEO of Alviere also claims that embedded finance is very different from Banking as a Service. He states that the scope of embedded finance is a lot larger than that of BaaS platforms. As per an estimate, the embedded finance market is expected to grow rapidly in the upcoming years. If experts are to be believed, the market will touch the $7.2 trillion mark by 2030.
The latest solution from Alviere is Hive, and these solutions are offered to corporate clients. These are white-labeled platforms that can enable companies to launch finance services in a short time. These solutions are especially beneficial for brands that don’t have financial solutions. These brands are able to offer financial solutions to their customers without any hassle. The solutions can also help the banks in improving their profitability. As per the founders, the new infusion of capital will help Alviere expand its services to Latin America and Europe. So alviere 70m azevedotechcrunch means Alviere lands $70M in funding to help brands offer bespoke financial products & services .
