Valio Capital acquires 31% of Fintech – the capital market

The non-bank credit company

Valio Capital
+ 2.36%

Base:76.2

opening:77.2

Tall:78.8

low:76.3

change:381,402

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(Former PLT Finance), whose control (56%) was acquired this year by businessman Rani Zim, reports a significant deal to acquire 31% of a company operating in the fintech field and specializes in technological systems for managing and operating digital wallets and prepaid debit cards (Prepaid) – At a value of NIS 20 million (before the money).

Valio Capital will pay NIS 9.5 million for the transaction, which represents a value of NIS 20 million before the money, while as part of the transaction, Valio Capital was given an option for 3 years to increase its share in the acquired company to 51%, for an additional investment of NIS 23 million. a million shekels.

At the date of completion of the transaction, Valio Capital will pay the acquired company approximately NIS 3 million, and the balance of the consideration of approximately NIS 6.5 million will be paid in accordance with the needs of the acquired company within 12 months from the date of completion of the transaction. Currently, the acquired company has no material income, the transaction is expected to be signed within 14 days, subject to the completion of a due diligence by Valio Capital.

At the same time, the company is adding to its board of directors controlling shareholder Rani Zim and Shimon Gal, former head of the business division at Bank Hapoalim.

Yahel Ben Sira, CEO of Valio Capital: “The current transaction expands the operations of Valio Capital, which currently operates in the field of non-bank credit, also to the developing fintech field, and gives Valio Capital access to advanced technological infrastructure in the field of prepaid services, a growing field characterized by populations That their access to the banking world is less, among other things in the Arab sector where Rani Zim, the controlling owner of Valio Capital, and the companies under his management have extensive activity. At the same time, we see the acquired activity as a potential synergy for our field of credit activity.