News from the Wire

Satispay to exceed €1b with Series D funding

Wednesday, September 28, 2022 — 05:26:53 (EDT)

Milan, September 28, 2022. Satispay— an innovative payment super network —announces a €320 million Series D investment round, led by Addition, taking its valuation to more than €1 billion. Greyhound Capital, shareholder since 2018, will follow and increase its stake in the company. Other participating investors include Coatue, Lightrock, Block Inc., Tencent and Mediolanum Gestione Fondi SGR, who all joined in 2021.

The investment round proves Satispay’s mobile payment super network success, which was launched to become the every-day payment solution for consumers across Europe and has received significant market attention since its previous Series C round.

Alberto Dalmasso, co-founder and CEO of Satispay, stated: “We are very pleased that, following this round, we feel we have the right tools and resources to accomplish our vision of creating the next leading payment network in Europe. Not only do we believe we have the necessary capital, but we also have the experience and expertise. In the last two years, we have experienced exceptional growth, more than doubling our customer base and launching in three new markets. We have also been able to bring in a lot of additional talent to our teams, helping us transform Satispay into a bigger, more structured competitive reality. It is truly a new beginning and we feel more determined than ever.”

Lee Fixel of Addition said: “Satispay is revolutionizing the mobile payment space in Europe, allowing users to transfer money efficiently and securely, not only in-store and online but with friends and family as well. We look forward to supporting Satispay as it continues to grow its team, expand its customer and merchant bases and accelerate its business to become Europe’s leading payment network.”

Satispay’s success is due to its unique model that simplifies every-day payments for consumers and cuts transaction fees for retailers, helping them transition to mobile payments. Upon closing of this round, Satispay will have raised more than €450 million of capital since its inception in 2013.

In an increasingly competitive market, Satispay is one of the very few players who has been able to build a coveted, yet difficult, model and scale a new and independent payment network within a fast-growing consumers and merchants community. Today, Satispay’s network counts a community of more than 3,000,000 consumers and 200,000 merchants, including small and medium retailers as well as international brands.

The formal closing of the round is subject to regulatory approvals and customary closing conditions.

About Satispay

Satispay is the mobile payment super network alternative to credit and debit cards. Independent, efficient, extremely convenient and secure. The Satispay app allows users to pay in physical and online stores and exchange money between friends, as well as benefiting from a range of other services such as phone top-ups, bill payments, pagoPA and auto vehicle tax stamps, donations, gift envelopes and savings. It is this strong focus on services, which is set to grow, that makes Satispay a super network, namely the point of reference for any immediate type of payment or money management-related activity. Today, 3 million consumers and 200k merchants use Satispay, including small stores but also big brands such as Esselunga, Auchan, Benetton, Carrefour, Boggi, Trenord, Eataly, McDonald’s, Tigotà, Autogrill, Trenitalia and many more. Satispay offers users a simple, immediate and secure payment experience, and merchants a transparent and advantageous pricing model, with no activation fees or monthly fees. With headquarters in Milan and offices in Luxembourg and Berlin, the company now employs 300 people and aims to become Europe’s payment super network.

The Green Sheet Inc. is now a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals. Click here for more information: bankcardlife.com?orid=33533&opid=1 .

Source: Company press release.