EBRD financing of EUR 25 million to Viva Wallet alongside other technology and financial investors, including Tencent and Breyer Capital.
Viva Wallet will leverage the new financing to accelerate the deployment of its "Tap-on-Phone" solution for in-store payments. "Tap on Phone" turns any Android device into a card terminal, thus allowing businesses to accept both contactless and PIN payments without the need for separate hardware. Viva Wallet is the first company to push this innovation across Europe to help merchants at scale do more and better business. For e-commerce payments, Viva Wallet is also launching its innovative "one-line-of-code-integration" Smart-Checkout, which adapts dynamically to cardholders' locality and preferences and vastly improves conversion rates.
ETI score: 68
Competitive quality: The project will support the launch of a new product (Tap-on-Phone) that facilitate the Company's rapid growth and are expected to result in competitiveness improvements. The project also promotes entrepreneurship as the Company's services will support an exceptional number of SME merchants and start-ups with improved payment services offering.
Integrated quality: The project will support the Company's expansion to new countries, thus supporting the Company's strategy of becoming a pan-European player.
VIVA WALLET HOLDINGS SOFTWARE DEVELOPMENT SA
Viva Wallet Holdings Software Development S.A., ("Viva", the "Company", the "Group"), is a Societe Anonyme incorporated in Greece since 2011. The Group offers fully integrated payments across the entire payments value chain through its subsidiaries comprised of Viva Payments Single Member SA ("Viva Wallet"), a ticketing company ("Viva Services") and a bank ("Viva Bank").
Viva Wallet is the first European entirely cloud-based neobank with offices in 23 European Countries. Created to change the way businesses pay and get paid, Viva Wallet offers businesses of all sizes acceptance-Card Present of Card not Present- of 24 payment methods, as well as business accounts with local IBAN and debit card issuing.
EBRD Finance Summary
Total Project Cost
- The Bank is financing a growth stage company that allows the Company to implement its pan-European expansion in an market environment affected by the pandemic.
- EBRD's presence provides comfort to the Company, in light of its expansion to new countries and deepening of its offering domestically.
Environmental and Social Summary
Categorised C (2019 ESP) Environmental and Social Due Diligence (ESDD) was carried out by ESD based on the review of the completed ESDD Corporate Questionnaire and follow up communication with the client. ESDD showed that the operations of the payment company and the project are not associated with significant environmental or social risks or impacts. The company is in compliance with EU legal requirements, and its HR & OHS policies are in line with EBRD PR 2&4. The company has a crisis management team, and a Covid-19 response plan is in place in line with the government's guidelines. The company is required to ensure that the project complies with EBRD PRs as well as provide an annual environmental and social report to the Bank.
Technical Cooperation and Grant Financing
Company Contact Information
Dr Yannis Larios
(+30) 211 7700 000
(+30) 211 770 7000
Viva Wallet Group 18-20 Amarousiou Chalandriou Ave., Marousi 151 25
PSD last updated
19 May 2021
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