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JP Morgan Closes Agreement For Over $800 Million Interest in Fintech Viva Wallet

Haiden Holmes

Dec 19, 2022 12:11

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A source with knowledge of the situation told Reuters on Saturday that JP Morgan had inked an agreement to purchase a 48.5% share in the Athens-based payments startup Viva Wallet for more than $800 million.


The insider, who requested anonymity, stated that the agreement was likely to be disclosed early the next week.


Neither JP Morgan nor Viva Wallet would comment.


In January, JP Morgan stated that it had reached an agreement to purchase a share in Viva Wallet.


The stake will be bought from Viva Wallet's minority owners, including the Latsis family office, which owns around 13% of the company, the British fund Hedosophia, which owns approximately 24%, and Deca Investments, which owns approximately 10%.


Cloud-based Viva Wallet, which operates in 23 European countries, offers card acceptance services via its POS application, Google (NASDAQ:GOOGL) play add-on devices, and advanced online payment systems.


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