Alviere is in the midst of growing its footprint across Europe, and the foundational tie-up with Marqeta will provide central services to drive the growth, bringing advanced financial services to the region.
See also: The Data Point: 92% of FIs Are Innovating or Plan to Innovate Embedded Finance Experiences
Alviere will operate in Europe and the U.K. as an electronic money institution and principal member card issuer. With Marqeta, Alviere’s enterprise clients can issue branded cards to their customers in the European Economic Area (EEA) and the United Kingdom, according to a press release.
“Access to financial services is continuing to evolve, and consumers are constantly opening up to new ways of moving, storing, spending and saving money. For brands in Europe, and around the world, providing financial services means uncovering vast untapped opportunities,” said Yuval Brisker, co-founder and CEO of Alviere.
Read more: Embedded Finance FinTech Alviere Partners With AutoPayPlus
“Embedding financial products under their brand into their existing business and products and to their existing customer base has quickly emerged as an important strategy for growth and customer retention,” Brisker added.
The partnership deal follows Alviere’s recent $70 million funding round as well as the hiring of the company’s first CFO, a PayPal veteran. Major brands are also starting to launch financial services using the company’s platform.
Related: Education, Embedded Finance Lead Modernization Trends in Business Payments
“Financial services open up a new avenue of consumer engagement for brands and allow them to deepen the consumer experience massively,” said Vidya Peters, chief operating officer at Marqeta. “Alviere has a modern approach to embedded finance and is part of a wave of innovation bringing about a new era of card products from traditional brands globally.”
