Viva Wallet

History

2022: JP Morgan bought 49% of Viva Wallet

On January 25, 2022, JPMorgan announced that it had agreed to acquire about 49% of the shares of Athens payment fintech Viva Wallet, subject to regulatory approval.

The financial terms of the deal were not disclosed, but sources close to the deal reported that Viva Wallet is valued at more than $2.0 billion. JPMorgan's investments will exceed $1.15 billion, including an increase in Viva Wallet's capital, which will not dilute its founders' controlling stake of 51.5%.

JP Morgan bought 49% of Viva Wallet

Viva Wallet is the first European fully cloud-based non-bank to use Microsoft Azure with affiliates in 23 countries, and Europe is the main participant Visa in MasterCard acquiring and issuing services.

Viva Wallet provides businesses of all sizes with card receiving services through Smart Android innovative terminals or Android VivaWallet POS application, as well as through advanced payment gateways in online stores. The company also offers business accounts with local IBAN and a business card Viva Wallet Mastercard.

We are very pleased to make a strategic investment in Viva Wallet to support their vision of expanding the opportunities for growth and innovation in the field of payments aimed at European small and medium-sized businesses, "said Takis Georgakopoulos, head of global payments at JPMorgan.

He said that the European payment sector is wide in terms of capabilities: more than 17 million suppliers are ready to implement payment systems that can be quickly deployed.

The stake will be acquired from minority shareholders of Viva Wallet, including from the family office of Latsis, which owns about 13% of the company, and the British Hedosophia fund, which owns about 24%.^[1]

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