Viva Wallet to buy Praxia Bank

Thursday 30 January 2020 09:55 CET | News

Viva Wallet has set a definitive agreement for the acquisition of online lender Praxia Bank.

This is set to turn online ticket and financial services provider Viva into a bank.

Viva expressed an interest in Praxia in December 2019, when Bob Diamond, who controls 100 percent of Praxia through Atlas Capital, informed the lender he was going to divest and sell his stake.

From the outset, Viva Wallet’s interest in Praxia was associated with its intention to obtain a credit institution license in Greece, and it also made clear that the business model Praxia had developed was not in accordance with its own plans.

The agreement requires the approval of regulatory authorities, including the Bank of Greece.

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Keywords: Viva Wallet, Praxia Bank, acquisition, financial services
Categories: Banking & Fintech
Countries: Greece
This article is part of category

Banking & Fintech