Atlanta-based FinTech VIVA Finance has secured $6.2m in Series A funding to scale its geographical and marketing presence in the United States.
The financial backers in VIVA were not disclosed at this time.
Founded in 2019, VIVA powers a mobile-first lending platform that offers loans underwritten mostly based on employment information instead of credit history. The company claims its mission is to build an inclusive financial system by expanding access to affordable credit through its underwriting model.
The firm services loans automatically through payroll – a solution that makes repayment seamless while also offering a built-in budgeting mechanism.
VIVA stated that thousands of people have already utilised VIVA’s loans to refinance expansive debt and cover a variety of financial needs.
According to VIVA, it intends to use the newly raised capital to invest in its team, technology and marketing to expand its presence across the US.
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