Athens-based Viva seeks €500 million fund
Viva Wallet now evolving to Viva Bank!
Greek payment startup currently operating across 17 countries in 9 languages with offices in the UK, France, Spain, Italy, Portugal, Belgium, Greece, Cyprus, Austria, Poland, and Netherlands are taking further steps to own a bank.
Following the completion of the purchase of Praxia Bank and approval from Central Bank of Greece, now Viva Wallet has a banking license. The banking license will allow Viva Wallet to serve a broader set of its customers’ needs including loans and saving products, that will be announced until the end of 2020.
Praxia Bank’s website now already redirected and now we are able to see the “Viva Bank” title. But its obvious, Viva Bank will need a lot of cash for the go-to-market. According to Reuters, Viva Wallet has hired Jefferies to advise on the 500 million € ($590.15 million) fundraising, which will offer stakes in a new legal entity that will take on all Viva Wallet’s banking loans, the sources said, speaking on condition of anonymity. “Viva wants to be a neobank without a loan book,” one of the sources said.
Viva Wallet team already experienced in European markets, so maybe like N26 (Germany) or Revolut (United Kingdom) we can see Viva Bank (Greece) spreading to the whole of Europe and join to the competition.
