Marqeta and Alviere Launch Groundbreaking Partnership in Europe

Rhea-AI Summary

Alviere partners with Marqeta to support its expansion in Europe, enabling clients to issue branded cards across the EEA and the UK. This strategic collaboration taps into the burgeoning embedded finance market projected to reach $7.2 trillion by 2030. Alviere, having raised $70 million recently, aims to enhance customer relationships and drive revenue through innovative financial solutions. The partnership signifies a potential shift in consumer engagement strategies for brands in Europe, leveraging Marqeta's modern card issuing platform.

Positive

• Alviere's partnership with Marqeta supports European expansion, tapping into a growing embedded finance market projected at $7.2 trillion by 2030.
• Recent funding of $70 million positions Alviere for growth and expansion.
• Alviere enables enterprise clients to issue branded cards, enhancing customer engagement and retention.

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• None.

Alviere Partners With Modern Card Issuing Leader Marqeta to Power European Expansion

NEW YORK--(BUSINESS WIRE)-- Alviere, the leading global embedded finance platform that enables any brand to deliver a full suite of financial products and services to customers, fans, and employees, today announced a groundbreaking partnership with Marqeta (NASDAQ: MQ), the global modern card issuing platform. With Alviere’s expansion across Europe, Marqeta will provide key services to enable the delivery of advanced financial services to customers across Europe and the United Kingdom. Alviere will be operating as an Electronic Money Institution and Principal Member Card Issuer across the region.

This foundational partnership will enable Alviere’s enterprise clients to issue branded cards to their customers in the European Economic Area (EEA) and the United Kingdom, leveraging the worldwide market opportunity for embedded finance, expected to grow to $7.2 trillion globally by 2030, according to a forecast by Simon Torrance.

“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. Embedding financial products under their brand into their existing business, products and to their existing customer base, has quickly emerged as an important strategy for growth and customer retention,” said Yuval Brisker, Co-Founder and CEO of Alviere. “By partnering with Marqeta, our embedded finance platform is becoming more powerful and robust, delivering a full array of financial products and services for European businesses to immediately help strengthen any brand's long-term relationship with customers, while increasing revenue and customer lifetime value at the same time.”

This partnership comes on the heels of a year of rapid and substantial growth for Alviere. The company recently raised $70 million from leading fintech investment firms, appointed its first CFO, hired a senior PayPal executive and will see major brands launching financial services to their customers using its platform.

“Financial services open up a new avenue of consumer engagement for brands and allow them to deepen the consumer experience massively. We’re excited that Alviere will be able to allow its brand customers to build in new payments experiences using our platform,” 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.”

To learn more, visit Alviere and Marqeta.

About Alviere

Alviere provides the most complete enterprise software solutions for embedded financial technology available on the market today. Alviere enables the world’s most trusted and visible brands to offer financial products to their customers for the first time, via a one-stop shop, fully compliant, and future-proof platform. Alviere’s platform enables global brands to increase profits, enhance customer relationships, and deepen consumer insights, all while increasing satisfaction and long-term customer retention.

To find out how Alviere’s embedded financial products can take your brand into the next generation of profitable business, visit us at alviere.com.

About Marqeta

Marqeta is the modern card issuing platform empowering builders to bring the most innovative products to the world. Marqeta provides developers advanced infrastructure and tools for building highly configurable payment cards. With its open APIs, the Marqeta platform is designed for businesses who want to easily build tailored payment solutions to create best-in-class experiences and power new modes of money movement. Marqeta is headquartered in Oakland, California. For more information, visit marqeta.com, Twitter and LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220524005965/en/

JP Cavender

SutherlandGold for Alviere

alviere@sutherlandgold.com

Source: Alviere

FAQ

What is the significance of Alviere's partnership with Marqeta?

The partnership enables Alviere to expand its services in Europe, allowing clients to issue branded cards, tapping into a growing embedded finance market.

How much funding did Alviere recently raise?

Alviere raised $70 million from leading fintech investment firms to support its growth and expansion.

What market opportunity does Alviere aim to leverage with Marqeta?

Alviere aims to leverage the embedded finance market, projected to reach $7.2 trillion by 2030, enhancing customer engagement for brands.

In which regions will Alviere operate as an Electronic Money Institution?

Alviere will operate as an Electronic Money Institution and Principal Member Card Issuer across the European Economic Area and the United Kingdom.

What does the partnership with Marqeta entail for Alviere's clients?

Alviere's clients can issue branded cards to their customers, strengthening brand loyalty and enhancing customer lifetime value.