JPMorgan investment a 'vote of confidence in the company and Greece', says Mitsotakis

JPMorgan investment a 'vote of confidence in the company and Greece', says Mitsotakis

Prime Minister Kyriakos Mitsotakis congratulated the staff of Viva Wallet on their work and for attracting the attention of banking giant JPMorgan & Chase as an investor, during a visit to the company's central offices on Thursday.

"I consider this investment a very significant vote of confidence in the company but also in the potential of the country. I am particularly glad that innovative Greek companies can distinguish themselves...Greece is not just a country that supports itself through tourism and its wonderful beaches but also has human resources in the technology sector which make us optimistic that technology will make up an ever-increasing part of the country's GDP," the prime minister said.

He then expressed his satisfaction that the company was putting the legislation on employee stock options into practice and that the surplus value this created was reaching all employees.

"For me this is the new model for business management. This - let us say - participatory capitalism surrounding startups is the model of the future. It is that which finally links the success of the company with the prosperity of the worker," he said, adding that this new culture of collective work was also apparent in other Greek startups.

Viva Wallet CEO and Co-Founder Haris Karonis noted that the specific investment was combined with a move leading to a maturation of the share option plan for the company employees, noting that this was brought about by the government's legislation "with very good results".

The prime minister also outlined the broader network of policies to support employment and worker incomes, such as the abolition of the solidarity levy and lowering of employer contributions, as well as changes to promote the digital transformation of the state sector, which he described as "revolutionary" in terms of the interactions between the state and individuals.

Mitsotakis was shown around the company's facilities and met with its management and staff. The prime minister's visit was carried out one week after his meeting with JPMorgan & Chase Chairman and CEO Jamie Dimon, following the bank's decision to acquire 48.5 pct of Viva Wallet.


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