Italy got its first unicorn in February this year, when BNPL fintech Scalapay raised $497M from Tencent, and now its time for the second unicorn for the country. Satispay, the digital payment company, has closed €320 million in Series D investment round, led by Addition, taking its valuation to over €1 billion.
In addition, Greyhound Capital, shareholder since 2018, will follow and increase its stake in Satispay. Other investors, including Coatue, Lightrock, Block Inc., Tencent and Mediolanum Gestione Fondi SGR participated in the round.
The investment round proves the success of Satispay’s mobile payment network , which was launched to become the every day payment solution for consumers across Europe. It has gained significant traction 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 revolutionising 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.”
Founded in 2013 by Alberto Dalmasso, 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. Satispay’s network currently counts a community of more than 3,000,000 consumers and 200,000 merchants, including small and medium retailers and international brands.
