Lugano-based iSwiss acquires Romanian ALVA and establishes a dedicated €20 million fund for the so-called under-banked in the local market

iSwiss has announced that its subsidiary ALVA is extending its financing and credit access services, with a special focus on the weak, the so-called under-banked, i.e. those excluded from access to the banking and/or credit system also as a result of past bad debts in their exposures. iSwiss will set up a dedicated fund of EUR 20 million for this type of user on the Romanian market, who will be able to access it with even minimal guarantees.

The Lugano-based iSwss acquires the Romanian ALVA. This is one of the most important acquisitions in the Romanian market in recent years and has already been approved by the Romanian regulator.

ALVA is one of the leading financial companies in Romania, which has been active for over twenty years and specialises in providing consumer credit on the Romanian market.

The iSwiss financial holding company is thus beginning its expansion into the international market, as per its business plan, and which will lead to the Swiss depository company competing in the global market with other Swiss financial brands by 2025.

Managing Director Christopher Aleo: „The purchase of ALVA, one of the most important Romanian financiers, will allow us to immediately enter the Romanian market and offer our financial services also in the European market. It is symbolic that we decided to finalise the acquisition at this very moment, despite the contrary opinions of several advisors who suggested freezing all investments. It is true: it is a difficult time for Europe, and even more so for Romania, given its particular geographical proximity to the war sites, but we are confident in a rapid resumption of economic growth, and we are ready to bet from our own pockets. I will say more: our analysts do not predict any recession in Europe even if the energy crisis deepens, and we look to the future cautiously optimistic.”

„We believe that financial players have a moral obligation to stand by their consumers, at this difficult time, and precisely in the geographical areas most exposed to the risk of a widening conflict. iSwiss will play its part to the full,” Aleo concludes.