Milan-based Satispay, a fintech company providing a wide range of digital payment services, announced on Wednesday that it has raised €320M in a Series D round of funding. With this, the company now sits on a valuation of over €1B, becoming the country’s latest ‘unicorn’.
The round was led by Addition, with participation from Greyhound Capital, Lightrock, Block, Coatue Management, MEDIOLANUM GESTIONE FONDI – SOCIETA DI GESTIONE DEL RISPARMIO PER AZIONI, and Tencent.
The Italian says it will use the funds to accelerate its growth in Italy and internationally. Satisplay intends to double its headcount from 300 to 600 in the next one and half years across its office location in Milan, Berlin, Luxembourg, and France. The fintech company is also planning acquisitions to increase its services efficiently, reports Sifted.
To date, Satispay has raised €490M in funding. It has become the second Italian unicorn this year after Scalapay, which raised $497M (approx €441.68M) in its Series B round of funding led by Tencent and Willoughby Capital.
Satispay: What you need to know
Founded in 2013 by Alberto Dalmasso, Dario Brignone and Samuele Pinta, Satispay is a mobile payment app and independent payment network that simplifies everyday payments for consumers and cuts transaction fees for retailers.
It is a bank account-enabled platform that allows in-store and online transactions, peer-to-peer payments, and an increasingly wide range of services, such as mobile top-ups, fines, taxes payment, donations, and savings.
Satispay says around 3M consumers and 200k merchants, including SMBs and big brands such as Esselunga, Auchan, Benetton, Carrefour, Boggi, Trenord, Eataly, McDonald’s Tigotà, Autogrill, Trenitalia, and many more, use their platform.
Alberto Dalmasso, co-founder and CEO of Satispay, says, “In the last two years, we have experienced exceptional growth, doubling our customer base and launching in three new markets. We have also brought in a lot of additional talent to our teams, helping us transform Satispay into a bigger, more structured competitive reality. It is a new beginning, and we feel more determined than ever.”