In a Series D financing round, Satispay, an Italian unicorn fintech company and payments provider, raised 320 million euros ($306 million), bringing its valuation to 1 billion euros.
In the round, which was led by Addition, other investors who had previously supported the business included Greyhound Capital, Lightrock, Block, Tencent, and Gestione Fondi.
“This result will be extremely pleasing for everyone who has put their faith in Satispay since 2013. Although the trip has been challenging, our drive has not wavered. According to a LinkedIn post by CEO and Co-Founder Alberto Dalmasso, “Only the beginning lies ahead. We’ll keep investing and growing to become more and more of Europe’s super network.
The Satispay payments app, which has its headquarters in Cuneo, Italy, and was co-founded by Dalmasso, CTO Dario Brignone, and CFO Samuele Pinta, is used as a digital wallet by an estimated 3 million consumers in Italy as well as by 200,000 businesses.
According to several media reports, quoting a statement from the firm, Dalmasso stated that the company thinks it has the “necessary tools and resources” to accomplish its aim of becoming Europe’s top payments network following the additional money from the Series D investment.
He stated, “Not only do we feel we have the necessary cash, but we also believe we have the knowledge and skills,” noting that Satispay has launched in three new areas, more than doubled the number of users it had previously, and hired people.
Satispay aims to make daily payments for customers simpler while lowering transaction costs for merchants. Since its founding nine years ago, Satispay has raised more than 450 million euros in capital.
According to Lee Fixel of Addition, “Satispay is redefining the mobile payment industry in Europe by allowing consumers to transfer money easily and securely, not just in-store and online, but also with friends and family.”
Fixel stated, “We look forward to assisting Satispay as it continues to build up its staff, broaden its client and merchant bases, and accelerate its company to become Europe’s top payment network.
