Marqeta and Alviere Launch Groundbreaking Partnership in Europe
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.”