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London Tech Week

Viola Credit closes $700M fund to back global fintech, proptech, and insurtech startups

Voila Credit founders
Image credits: Voila Credit

Israeli fintech and alternative credit asset manager Viola Credit, just closed a $700 million fund. The Viola Credit Alternative Lending Income Fund II (ALF II) will provide asset-based lending capital to emerging and established global fintech, proptech, and insurtech companies.

Eyes to disrupt traditional lending

ALF II will continue to enjoy its robust network and deep long-standing relationships with the technology ecosystem to provide asset-backed lending transactions for fintech platforms to scale their origination business. The fund will partner with fintech platforms across the US, Western Europe, the UK, Australia, and New Zealand that disrupt traditional lending sectors.

Notably, the fund has already called more than 40% of its capital commitments and plans to partner with 13-15 additional fintech platforms.

“We’re excited to launch an additional Alternative Lending Income Fund,” said Ruthi Furman, Founder, and General Partner at Viola Credit. “We’ve deployed over $1.1B to date under this strategy and have partnered with over 15 promising platforms. We’re excited to launch an additional Alternative Lending Income Fund to continue supporting this growing FinTech ecosystem globally.”

“Financial services are undergoing transformational shifts”, said Ido Vigdor, General Partner at Viola Credit. “This fintech revolution, driven by the 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. 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.”

What does Viola Credit do?

Viola Credit, formerly known as Plenus, was founded in 2000 in Tel Aviv as a part of the Viola Group. It is led by partners Alex Ginzburg, Ruthi Furman and Ido Vigdor. Its traditional activity is extending loans for financing operations of startups that do not want to embark on equity financing rounds and are seeking alternative ways to raise money.

Viola has been operating in the venture and growth lending through a $200 million fund that it raised in 2017. Also, it has adopted a strategy of providing credit lines to growing fintech companies over three to four years. The credit is not for the startup’s operations but to provide it with available capital for its end customers who need credit of various sorts.

Being Israel’s largest technology investment house with over $4 billion in assets under management, Viola Credit provides customised credit solutions to global technology companies. Its data-driven investment and risk management operations are key to providing unique solutions to its portfolio companies.

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