Viola Credit Closes $700 Million Fund That Will Lend to FinTech Startups
Viola founder

Viola Credit Closes $700 Million Fund That Will Lend to FinTech Startups

A global alternative credit asset manage firm just raised a lot of money in hopes of partnering with financial startups. Viola Credit announced the closing of a $700 million fund. The fund — known as Viola Credit Alternative Lending Income Fund II — will focus on offering asset-based lending capital solutions to FinTechs, including those in the PropTech (property tech) and Insurtech spaces. Specifically, Viola plans to partner with startups in the United States as well as Western Europe, the United Kingdom, Australia, and New Zealand. With 40% of the fund’s capital commitments already accounted for, the company says it plans to partner with an additional 13 to 15 platforms.

Describing itself as a “long-term credit partner,” Viola helps support startups with their operating capital needs. For example, as TechCrunch explains, the company could work with the likes of a “buy now, pay later” platform such as Affirm to provide lending capital on receivables.

As Viola notes in their press release, this new fund is being established as FinTech is coming off a record-breaking year. According to CB Insights, FinTech funding totaled $131.5 billion globally in 2021. Additionally, last year, there were a total of 235 unicorns in the sector, which was up 108% from 2020. Furthermore, currently, one-quarter of all startup unicorns are FinTechs.

Announcing the latest fund, Viola Credit founder and General Partner Ruthi Furman stated, “We’re excited to launch an additional Alternative Lending Income Fund. We’ve deployed over $1.1 billion to date under this strategy and have partnered with over 15 promising platforms.” Furman added, “We’re excited to launch an additional Alternative Lending Income Fund to continue supporting this growing FinTech ecosystem globally.”

Speaking further about how the company will be able to assist startups, Viola General Partner Ido Vigdor noted, “Financial services are undergoing a transformational shift. This FinTech revolution, driven by acceleration of digital adoption and emergence of new business models, enables new forms of banking experience and consumer financial services, which requires securing of lending capital solutions to support growth.” Vigdor concluded, “We pride ourselves on partnering with innovative FinTech platforms to nurture them as a company, help them build their products, and be an essential part of their go-to-market strategy.”

There’s no doubt that Viola Credit’s $700 million fund will go a long way in helping FinTech startups to execute their visions. In turn, consumers around the world may be able to enjoy whatever game changing platforms these startups are able to bring to market with Viola’s help. Of course, with the sector continuing to grow, it might not be long before Viola Credit Alternative Lending Income Fund III comes to fruition.

Leave a Reply

The "Email" field is empty, you must enter some text to proceed.The text you entered in the "Email" field appears to be invalid, please edit it and try again
Get the Latest News Delivered to Your Inbox

A Guide to Building Credit and Increasing Your Credit Scores

When it comes to credit, there’s some good news. The average credit score in the United States has been steadily rising in recent years, coming in at 715 in 2023. That may be because, today, consumers not only have more ways to access their credit reports and scores than ever before but also because there are an increasing number of options that Americans have for building credit in the first...

2024 SoFi Checking and Savings Review

Ever since I started taking an interest in the FinTech sector, one company whose name I’ve seen pop up over and over again is SoFi. Lately it seems as though that theme has been sent into overdrive as the company has not only become a household name thanks to its stadium naming rights deal but also because of the company’s continued product expansions. The most interesting development in my mind...
Brim logo

Brim Financial Raises $85 Million as It Eyes Global Expansion

Toronto-based FinTech infrastructure startup Brim Financial has announced a new funding round. About the round: Brim has revealed an $85 million round. The Series C was led by EDC Investments while new investor Vistara Growth and returning investors White Owl Group, Epic Ventures, and Zions Bank also participated. To date, the company has now raised $110 million including a Series B in 2021. According to Brim, the latest funding will...
Chase Freedom Flex card

Chase Reveals Q2 2024 Freedom 5%(+) Bonus Categories

Chase has announced its bonus category picks for the second quarter of 2024 — including some interesting twists. About the categories: As April approaches, Chase has revealed what categories Freedom and Freedom Flex cardholders can earn bonuses on. From April 1st through June 30th, customers can earn 5% (or more) in three categories:, Hotels, and Restaurants. Similar to how Chase embraced a "New Year, New Me" theme last quarter,...
Rent Day

Bilt Announces Home Collection Deal for May 2024 Rent Day

For May's Rent Day, Bilt is offering a deal that will allow members to decrease their rent bill while also adding to their home decor. About the Home Collection offer: Bilt has crafted a unique Rent Day offer for May 2024. Through the 1st, when Bilt members redeem their points toward rent payments, they'll receive the same number of points to be used toward Bilt Home Collection items. To take...