Viva Wallet, a Greek startup providing banking services aimed mainly at small and medium-sized enterprises, announced it has secured additional financing of $80 million from several technology and financial services investors, including Tencent ( the Chinese technology giant behind Wechat), the European Bank for Reconstruction and Development (EBRD) and Breyer Capital.

Viva Wallet has build a pan-European Neobank providing localised payment and credit services to businesses across 23 European countries. Its sucess highligths the fact that alternative banks keep luring clients away from traditional banks by offering a more personalized experience and better deals for the customer.  

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.

“Digital transition is among the top priorities for the EBRD and we’re very proud to help companies like Viva Wallet reach their full potential and offer high quality services to clients all over Europe” Andreea Moraru, EBRD Head of Greece and Cyprus, said.

Viva Wallet is launching “Merchant Advance” loans for its clients across Europe. The credit products are serviced through Vivabank, leveraging third-party SPVs financing through a loan securitisation process. This is part of the strategy behind the successful acquisition of the digital challenger Praxia Bank last year, which has since been rebranded to Vivabank. Jefferies has facilitated Viva Wallet’s financing process and the SPV funding.

“We are excited to onboard Tencent, EBRD and Breyer Capital to Viva Wallet,” said Haris Karonis, Founder and CEO of Viva Wallet. “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.”