US-based embedded finance technology developer Alviere has secured $70m in series A and B funding from investors including website creation software provider Wix.
Unnamed institutional financial technology-focused investors led the $50m series B round, which included financial services firm BNP Paribas and Commerzbank (through Opera Tech Ventures and CommerzVentures respectively) as well as Viola Ventures, Viola Fintech and North Coast Ventures.
Alviere also disclosed that it had completed a $20m series A round in April this year co-led by Viola Ventures and Viola Fintech and backed by CommerzVentures in addition to Wix Capital and Mitsubishi UFJ Capital, respective subsidiaries of Wix and financial services firm Mitsubishi UFJ.
Other investors including Draper Triangle Ventures, Cross River Bank Capital and Cerca Partners filled out the participants in the series A round.
Founded in 2020, Alviere provides plug-and-play enterprise software designed for organisations to automate and streamline their financial products in areas including banking, mobile payments, card issuance, payment processing and cross-border currency exchange.
The company will use the funding to execute its go-to-market strategy and expand its presence from North America to other regions such as Europe and Latin America.
