WJA Wameja Limited

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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