The investment comes as the five-year old Alviere sets its sights on global expansion, with a vision from its CEO and co-founder, Yuval Brisker, that includes building up its clientele outside its U.S. business. The New York-based company currently also has offices in Denver, London, Lisbon and Dublin.

“The global demand for embedded financial services is growing exponentially,” he said in the press release. Alviere’s finance software “enables brands to deliver new and exciting financial products to consumers and businesses alike.”

Alviere enables customers of Silicon Valley Bank to provide financial services, including payments, alongside traditional products. “Bringing new variations of financial services into stores, stadiums, or anywhere loyal customers want to spend time and money provides a tremendous opportunity for brands to engage their followers in new and exciting ways,” SVB Managing Director Jordan Parcell said in the release.

Besides raising capital, the financial services startup has also been shaking up its leadership. In December, the company appointed Steven Scofelia as its first CFO. In addition, Alviere this month has also hired Wes Schmidt as its new chief revenue officer. In January, the company also appointed Tim Dardis, a veteran of digital payments pioneer PayPal and Venmo, to serve as its vice president of business development and strategy.

Alviere has partnered with other companies to expand its reach and available services. Last month, the company teamed up with Marqeta to let businesses issue branded cards to customers in Europe and the U.K. In March, it partnered with Coinbase to provide cryptocurrency services for digital assets like Bitcoin, Ethereum, Litecoin and USDC.

In its announcement regarding offering crypto-as-a-service, Alviere touted Coinbase’s 2021 user base of more than 89 million consumers and its $2.5 billion in reported net revenue. However, in its first-quarter earnings report this year, Coinbase’s revenue dropped 27% compared to the year prior, and the company reported a net loss of $430 million, that company said in a press release.This month, CNN reported that the cryptocurrency exchange laid off 18% of its employees.

On the other hand, its other partner Marqeta has fared better. That company has collaborated with major players like tech behemoth Google and buy now-pay later player Klarna. Its stock price rose by 13% on its first day of trading last year following its initial public offering. For Marqeta’s first-quarter earnings report last month, net revenue jumped 54% compared to Q1 2021.