Wameja Subscribes for Further EUR1.8 Million in HomeSend Shares
March 18 2021 - 3:35AM
Dow Jones News
By Sabela Ojea
Wameja Ltd. said Thursday that it has subscribed for a further
1.8 million euros ($2.2 million) worth of shares in HomeSend SCRL.,
as part of a capital raise with Mastercard, its joint-venture
partner in the HomeSend global payment hub.
The payment-solutions provider said the equity contribution is
linked to a EUR6 million capital raise, with Mastercard agreeing to
contribute an additional EUR1 million over and above its
proportionate interest in HomeSend SCRL.
"The funds from the capital raise are to be used to support the
operational expenses of the HomeSend 2021 business plan and its
minimum equity requirements into the second half of 2021," Wameja
said.
HomeSend's 2021 business plan anticipates an additional EUR4
million in capital will be needed in the second half of the
year.
Wameja will have an interest of 35.26% in the HomeSend joint
venture following the capital raise, it said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
March 18, 2021 04:20 ET (08:20 GMT)
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