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VIVA Finance lands $150m to challenge predatory lending

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VIVA Finance lands $150m to challenge predatory lending

VIVA Finance, an Atlanta-based FinTech offering consumer loans repaid through payroll, has closed a $150m credit facility with Viola Credit, a global alternative asset manager focused on technology-enabled lending.

The new capital will let VIVA Finance expand its core lending business faster. The company plans to use its proprietary payroll-linked repayment system to reach more borrowers who are poorly served by conventional credit bureaus and established banks, offering them clear and affordable personal loans.

VIVA Finance connects its platform to employees’ direct deposit, so loan repayments come straight from wages. Because this lowers repayment risk, the company can offer more favourable terms and cheaper interest rates than many standard personal loan products.

Demand for this kind of responsible, payroll-linked borrowing keeps rising as workers find it difficult to obtain affordable credit when emergencies hit. VIVA Finance sees this as the gap its model is designed to fill.

The Viola Credit deal follows a period of strong growth for the company. VIVA Finance has been widening its distribution reach through strategic partnerships across the employee credit landscape.

VIVA Finance CEO and founder Jack Markwalter said, “This strategic partnership with Viola Credit represents a major milestone for VIVA as we continue to scale our platform and expand our market footprint. Viola Credit’s deep expertise in fintech and structured finance makes them an ideal partner for this next phase of our growth.



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