Alviere taps Silicon Valley Bank funding

Embedded finance platform Alviere has secured financing from Silicon Valley Bank, one of the largest banks in the United States, which has helped fund more than 30,000 start-ups.

Alviere has experienced fast growth in recent months, having raised $70 million from leading fintech venture firms, and appointing Steven Scofelia as its first Chief Financial Officer.

The firm has signed major brands, who will be launching neo-bank services to consumers using its platform this year.

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Yuval Brisker, Co-Founder and CEO of Alviere, commented: “The global demand for embedded financial services is growing exponentially. Alviere’s leading embedded finance enterprise software platform easily enables brands to deliver new and exciting financial products to consumers and businesses alike, all the while bringing more value to customers as well as increasing customer lifetime value, deepening customer insights and dramatically growing profitable revenue.

“The team at Silicon Valley Bank aligned early with Alviere’s vision and long-term goal of leading this market on a global scale. We’re excited to partner with Silicon Valley Bank to continue to fuel our momentum with new capital.”

Jordan Parcell, Managing Director at Silicon Valley Bank, said: “Alviere is playing a key role in today’s fintech ecosystem that will see America’s biggest brands begin to offer their own, brand-forward financial services alongside their traditional products or services. Bringing new variations of financial services into stores, stadiums, or anywhere loyal customers want to spend time and money provides a tremendous opportunity for brands to engage their followers in new and exciting ways.”

In late May, Alviere partnered with global modern card issuing platform Marqeta as the embedded finance platform expands across Europe and will be operating as an Electronic Money Institution and Principal Member Card Issuer across the region.

Marqeta will provide Alviere with key services to enable the delivery of advanced financial services to customers across Europe and the United Kingdom.

Alviere enables any brand to deliver a full suite of financial products and services to customers, fans, and employees. Its  enterprise clients will now be able to issue branded cards to their customers in the European Economic Area (EEA) and the United Kingdom.

The partnership marks another milestone in the expansion of embedded finance, which is expected to grow to $7.2 trillion globally by 2030, according to renowned platform strategist Simon Torrance.

In March 2022, Alviere teamed up with Coinbase Prime, which will provide crypto services into Alviere’s embedded finance platform, The HIVE.

The global embedded fintech will offer multi-currency accounts and will serve as an “introducing broker” that can help Coinbase further its mission of making crypto mainstream.

Alviere enables any brand to deliver a full suite of financial products and services to customers and expects 2022 to be a year of exponential growth and international expansion, with major brands set to go-live.

Coinbase Prime will provide Alviere the Coinbase Prime Platform and crypto infrastructure to integrate crypto services into Alviere’s HIVE platform, starting with custody and execution of digital assets.

Alviere Crypto Services powered by Coinbase Prime will go live in the U.S. under Alviere’s state-by-state money transmission licenses and will allow the end users of Alviere’s programs to buy, store and sell select digital assets like BTC, ETH, LTC and USDC. International expansion to other markets where Alviere operates will follow.