https://www.adnkronos.com/viva-wallet-announce...(Adnkronos) - J.P. Morgan to own 48,5% stake in Viva Wallet
ATHENS, Greece, Dec. 20, 2022 /PRNewswire/ -- Today, Viva Wallet and J.P. Morgan announce closing on a 48,5% ownership stake in Viva Wallet Holdings Software Development S.A. (Viva Wallet). Haris Karonis and Makis Antypas, founders of Viva Wallet, secure their majority shareholding after the closing of the Transaction, as they hold 51,5% of shares in Viva Wallet. As part of the Transaction, J.P. Morgan is also converting Viva Wallet's Convertible Loan Note and as a result Viva Wallet Group eliminates its debt. Viva Wallet further increases its capital by a €100m cash injection provided by J.P. Morgan. The agreement between J.P. Morgan and Viva Wallet was announced in January 2022.
Viva Wallet, a leading European cloud-based neobank, has been committed to developing cutting-edge technologies, aiming to shape the future of payments, unifying the fragmented European payments landscape. With local branches in 24 European markets, Viva Wallet is best positioned to serve businesses of all sizes and marketplaces across the continent. Harnessing the power of revolutionary technologies, such as the "tap-on-phone Viva Wallet POS app" and Smart Checkout payment gateway, Viva Wallet delivers an omnichannel solution, that offers seamless, conversion-boosting and secure ways to process transactions both in the physical and digital worlds, streamlining business operations and enhancing the customer experience. Plus, with a focus on future-proofing for the EU Digital Services Act of 2022, Viva Wallet is the perfect choice for any marketplace platform looking to stay ahead of the curve in the rapidly evolving world of payments.
At the same time, Viva Wallet's Share Option Plan remains a key driver for growth. Thirty-five thousand (35.000) shares of $50m will be distributed to 200 Viva Wallet employees -the company's "intrapreneurs"-, reflecting their contribution in the company and their employment tenure; one of the greatest Share Option Plans ever deployed. New and future employees will have the opportunity to become part of a new Share Option Plan, an essential means of attracting new talent from across Europe, who share Viva Wallet's forward-thinking mindset, vision, and values.
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