Viola Credit secures $700 million for loan fund
Alternative Credit Asset Manager and FinTech Startup viola credit closed its $700 million fund – the Viola Credit Alternative Lending Income Fund II (ALF II) – providing asset-based lending capital to FinTech, PropTech and InsurTech startups.
“We have deployed over $1.1 billion to date under this strategy and have partnered with over 15 promising platforms,” Ruthi Furmanfounder and general partner of Viola Credit, said in a Press release Thursday (May 26).
Furman added that the launch of an additional alternative lending income fund will provide continued support for the growing FinTech ecosystem around the world.
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ALF II follows the strategy of previous funds and will provide “low-dilutive asset-based loan capital solutions” to startups and established companies working to disrupt traditional financial markets, according to the release.
“Financial services are undergoing transformational change. This FinTech revolution, driven by accelerating digital adoption and the emergence of new business models, is enabling new forms of banking experience and consumer financial services, which requires securing loan capital solutions for support growth,” said Ido Vigdor, General Partner at Viola Credit.
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The fund plans to collaborate with FinTech disruptors in the traditional lending space in the US, Western Europe, UK, Australia and New Zealand. At the final close of ALF II, it has already called more than 40% of its capital commitments and plans to partner with 13 to 15 additional FinTech platforms, according to the statement.
Launched in 2000 and based in Tel Aviv, Israel, Viola Credit is a global credit investment manager targeting the innovation economy and supporting its development. The firm is a unit of Viola Group, Israel’s “largest technology investment house with over $4 billion in assets under management.”