16th Dec 2019 13:45
(Alliance News) - Fintech company Wameja Ltd said Monday it has subscribed for ordinary and referred shares in global payment platform HomeSend SCRL for EUR1.8 million in total.
HomeSend is jointly owned by Wameja and US financial services firm Mastercard Inc.
In response, Mastercard subscribed for its proportionate number of shares in HomeSend, in order to maintain the percentage shareholdings of Mastercard and Wameja in the joint venture at 64% and 36%, respectively.
In total, both companies have provided a total of EUR5.3 million in additional capital to HomeSend. These funds have been provided to support operational expenses, as in the last 12 months HomeSend incurred EUR9.4 million in costs.
Over the same 12-month period, Mastercard and Wameja have made a capital contribution of EUR17.5 million.
Shares in Wameja were down 1.0% at 5.00 pence on Monday in London.
By Dayo Laniyan; [email protected]
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