Italian mobile payments unicorn Satispay has raised an additional €60 million in funding, strengthening its partnership with key investors Addition, Greyhound, and Lightrock. This new capital injection brings Satispay’s total funds raised to over €500 million, furthering the company’s mission to expand its services and customer reach. Since attaining unicorn status in September 2022, Satispay has achieved significant growth, now serving over 5 million users and 380,000 merchants across Italy, France, and Luxembourg.
Founded in 2013, Satispay operates as an independent payment network, offering a streamlined, cost-effective alternative to credit and debit card transactions. With recent growth milestones, the company has successfully entered the employee benefits market, introducing Corporate Meal Vouchers and Fringe Benefits – which have reached more than 12,000 corporate clients and over 50,000 users within a year. Satispay is now setting its sights on launching new investment services for consumers in the coming year.
Alberto Dalmasso, co-founder and CEO of Satispay, said: “Once again, Satispay benefits from a perfect synergy that today is expressed through a truly strong partnership with our main investors supporting this operation – and, I would say, with all of our investors who have supported us from the beginning, consistently renewing their trust. Based on our analysis of the results achieved with a portion of the raised funds, they are now providing us with even more fuel to push harder on the growth accelerator. Being able to do this by raising funds earlier and in excess of what was strictly necessary, especially in a market context affected by sudden geopolitical shifts and a more challenging Venture Capital landscape due to interest rate trends, is a great privilege.”
The funding aims to position Satispay as a leading player not only in mobile payments but also in welfare and investment services. With an additional increase in voting rights, the founders now regain majority control, reinforcing the company’s long-term vision and strategic direction.
Satispay currently enables users to perform a wide range of financial activities, including physical and online payments, bill payments, mobile top-ups, and more. The app’s transparent, fee-friendly model has attracted both small merchants and major brands like Carrefour, Decathlon, and Trenitalia. With a team of approximately 650 employees and a growing presence across multiple countries, Satispay continues to expand its offerings, providing a simple, secure alternative for users and a cost-effective platform for merchants. The new funds allow the company to sustain its growth trajectory and pursue potential acquisitions if suitable opportunities arise.
Read the orginal article: https://www.eu-startups.com/2024/11/milan-based-satispay-secures-e60-million-to-expand-its-mobile-payments-and-employee-benefits-platform/
