Viva Wallet, a Greece-based neobank startup, has reportedly secured $80 million through its latest investment round. The company raised €500 million in capital to support its virtual banking business this previous summer.
Founded in 2010, Viva Wallet describes itself as a European fintech disruptor on a mission to change how businesses pay and get paid.
“We offer businesses of all sizes an opportunity to accept 24 payment methods with our innovative multi-feature Smart Android card terminals, provide card processing through own cloud-based infrastructure, Card-Present and Card-Not-Present acquiring services, merchants accounts and debit card issuing.”
Viva Wallet is currently live in nearly 25 European markets, with plans to expand that to Croatia, Hungary, and Sweden. According to TechCrunch, Tencent participated in the funding round along with European Bank for Reconstruction and Development (EBRD) and Breyer Capital. Although the company has not disclosed its valuation with this investment, Yannis Larios, Viva Wallet’s VP of Strategy and Business Development, revealed to the media outlet he and his team are currently in the middle of closing the company’s Series D investment round, which will value it at €1.5 billion ($1.8 billion).
Speaking about the investment round, Haris Karonis, Founder and CEO of Viva Wallet, shared in a statement:
“We are confident that our investors’ extensive know-how and network of partnerships will accelerate Viva Wallet’s plan to unify the fragmented European payments market. The technology innovations that we are bringing forward to European merchants will help them provide a frictionless, localised payment experience to all their clients, and liberate them from the hassle of maintaining legacy card terminals.”
The investment round’s funds will notably be used to continue the growth and development of Viva Wallet’s platform and products.