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Viva Wallet: we as a company are not involved in any legal proceedings with any of our shareholders

Viva Wallet has made known in a statement that it is not involved as a company in any legal proceedings with any of its shareholders, in the wake of today’s FT publication about a lawsuit swap between Harry Karoni and JP Morgan, i.e. shareholders.

Viva Wallet notes that it “continues to grow in Europe and plans to expand in the US, which is part of the agreed strategy as clearly set out in the Shareholder Agreement between the company, the controlling majority shareholder – WeRealize – and the non-controlling minority shareholder – J.P. Morgan.”

In a report today, the FT reported that the founder and CEO of Viva Wallet has launched legal proceedings as a shareholder against JP Morgan for tactics he claims are aimed at stifling his company’s growth and lowering its valuation by preventing it from entering the US and new European markets.

Similarly, according to the Financial Times, JPMorgan has launched a counterclaim against Karoni over his actions which, the bank claims, lead to a restriction or circumvention of our contractual and legal rights as investors. Both legal claims were filed in the High Court in London on Wednesday 14/2/2024.

Viva Wallet’s statement reads:

As part of the ongoing legal proceedings between the two Shareholders, Viva Wallet notes the following:

“The Company is not involved in any legal proceedings with any of its Shareholders and continues to pursue its growth path in Europe, vigorously and consistently.

Viva Wallet is in a privileged position, with its Shareholders sharing the same strong interest in its successful growth, given its innovative business approach and strong market position:

– It has the largest footprint compared to any other digital bank in Europe, with a physical presence in 24 countries, serving merchants across the region.

– It is the only technology bank in Europe with an infrastructure exclusively in the cloud, with direct connectivity to all international and European local card schemes, in full compliance with the KYC/AML institutional framework of all countries, having total control over the payment process.

– It is supervised by local Central Banks and Supervisory Authorities across Europe, and none of its physical branches have been subject to any regulatory fines by any of these authorities.

– It is changing the face of payments with its innovative Tap on Any Device technology, which allows payments to be accepted via any device, freeing merchants from cumbersome old-style terminals.

– It already has secured funding and zero debt to continue to invest seamlessly in its growth.

See Also:

Financial Times: Greek entrepreneur Haris Karonis & JP Morgan are involved in facing counterclaims

 

Viva Wallet is continuing its growth in Europe, with plans to expand to the US. This is part of the Strategy that has been agreed as clearly set out in the Shareholder Agreement between the Company, the controlling majority shareholder – WeRealize – and the non-controlling minority shareholder – J.P. Morgan.

For Viva Wallet, the objective remains the same: to continue to grow in line with its strategy, which has been jointly agreed by its two Shareholders,” the statement concludes.

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