MVVM is a software design pattern that is structured to separate program logic and user interface controls. MVVM is also known as model-view-binder and was created by Microsoft architects Ken Cooper and John Gossman.
MVVM separates your view (i.e. Activitys and Fragments) from your business logic. MVVM is enough for small projects, but when your codebase becomes huge, your ViewModels start bloating. Separating responsibilities becomes hard.
MVVM with Clean Architecture is pretty good in such cases. It goes one step further in separating the responsibilities of your code base. It clearly abstracts the logic of the actions that can be performed in your app.