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.
An estimated 3 million individuals and 200,000 companies in Italy utilize the Satispay payments app, which was co-founded by Dalmasso, CTO Dario Brignone, and CFO Samuele Pinta. Its headquarters are in Cuneo, Italy.
Following the increased funding from the Series D investment, Dalmasso reportedly indicated that the business believes it has the “required tools and resources” to achieve its goal of becoming Europe’s top payments network, according to multiple media reports, quoting a statement from the company.
Noting that Satispay has expanded into three additional regions and more than quadrupled its user base, he said, “Not only do we feel we have the requisite funds, but we also believe we have the expertise and capabilities.”
Satispay seeks to reduce transaction costs for retailers while simplifying daily payments for customers. Satispay has raised more than 450 million euros in the capital since its establishment nine years ago.
Satispay “is changing the mobile payment business in Europe by enabling customers to transfer money simply and securely, not just in-store and online, but also with friends and family,” according to Lee Fixel of Addition.
According to Fixel, “We look forward to supporting Satispay as it continues to expand its client and merchant bases, hire more employees, and grow its business to become Europe’s leading payment network.
