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Home»Finance»JP Morgan signs deal for stake in fintech Viva Wallet for over $800 million
Finance

JP Morgan signs deal for stake in fintech Viva Wallet for over $800 million

December 19, 2022No Comments1 Min Read
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ATHENS, Dec 17 (Reuters) – JP Morgan (JPM.N) has signed a deal to purchase a 48.5% stake in Athens-based funds fintech Viva Pockets for greater than $800 million, an individual with information of the matter informed Reuters on Saturday.

The supply, who spoke on situation of anonymity, stated the deal was anticipated to be introduced early subsequent week.

Each JP Morgan and Viva Pockets declined to remark.

JP Morgan introduced in January that it had agreed to accumulate a stake in Viva Pockets.

The stake is to be acquired from Viva Pockets’s minority shareholders, together with the Latsis household workplace, which holds about 13% of the agency, British fund Hedosophia with about 24% and Deca Investments with about 10%.

Cloud-based Viva Pockets, which operates in 23 international locations throughout Europe, gives card acceptance providers by its POS utility, add-on Google play gadgets and superior fee techniques in on-line shops.

Reporting by Karolina Tagaris; further reporting by Jose Joseph and Renee Maltezou; Enhancing by Nick Macfie

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