Payments company Viva Wallet raises $80 million from investors, including Tencent

Greek payments company Viva Wallet said on Wednesday it secured funding of $80 million from technology and financial services investors, including Tencent, the European Bank for Reconstruction and Development (EBRD) and Breyer Capital.

Viva Wallet, which operates in 23 European markets, said it plans to deploy the funds to launch ‘Merchant Advance’ loans for its clients across Europe.

Athens-based Viva Wallet acquired Greek digital bank Praxia last year, rebranding it to Vivabank.

It said its credit products will be serviced through Vivabank, leveraging third-party special purpose vehicle (SPV) financing through a loan securitisation process.