Greek fintech Viva Wallet hires Jefferies for 500 mln euro fundraising

Greek payments company Viva Wallet is seeking to raise half a billion euros to support its digital banking operations, two sources told Reuters, eight months after securing a banking licence through a merger with Praxia Bank. 

The Athens-based company has hired Jefferies to advise on the 500 million euro ($590.15 million) fundraising which will offer investors stakes in a new legal entity which will take on all Viva Wallet’s banking loans, the sources said, speaking on condition of anonymity. 

If successful, the deal could provide a new way for small start-up banks in Europe to manage their loan books, making it easier for these challenger digital lenders, known as neobanks, to raise money.

Read more: Reuters