Fintech Company Satispay Raises 60 Million Euros Led by Addition

Satispay – the innovative payment network that, with the latest funding round led by Addition, achieved unicorn status in September 2022 – concludes a new capital increase worth 60 million euros, bringing the total collection to over half a billion euros.

The operation, which is supported by the three main investors, Addition, Greyhound and Lightrock, reflects Satispay’s strong alliance with the same investors who, based on the excellent path recorded in these two years, have seen the possibility of accelerating the Company’s growth in a more than exponential way.

Satispay has in fact demonstrated that it knows how to best use the resources collected by reaching all the growth objectives set

The company has exceeded the milestone of 5 million users and 380,000 merchants, it has seized a great market opportunity with the launch of the Meal Vouchers and Fringe Benefit services – which in just 12 months, thanks to the innovative features, have reached over 12,000 client companies and exceeded 50,000 users, creating the conditions to become a reference player as soon as possible – and has started the process for the launch, scheduled for next year, of new investment services aimed at the platform’s consumer users.

For its part, Satispay, which has found in its main investors true experts with whom to maintain constant dialogue, is happy to consolidate this partnership, and to increase even more rapidly the value generated for all its members, employees and end users, thanks to the positive impact of new financial resources that will further accelerate growth and the launch of new services.

Alberto Dalmasso, co-founder and CEO of Satispay, commented: “once again Satispay is accompanied by a perfect alchemy that today is expressed in a truly strong partnership with our main investors who support this operation – but I would go so far as to say with all our investors – who have always supported us from the beginning, continuing to renew their trust. In light of the analysis of the results we have achieved with a part of the resources raised, they give us even more fuel to push even harder on the growth accelerator.”

“Being able to do this by raising earlier and more than necessary, moreover in a context in which the markets are conditioned by sudden geopolitical changes and the world of Venture Capital has become more difficult for everyone also as a result of the trend in interest rates, is a great privilege.”

The operation comes after a continuous acceleration and aims to give Satispay the resources to compete and establish itself as a leader not only in the mobile payments market , but also in welfare and investments. The cash is added to that already available, allowing the company to maintain strong growth and evaluate acquisitions should interesting opportunities arise. As a further expression of trust, the operation includes an increase in voting rights from 3 to 5 for the founders, who thus return to controlling the majority.

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(Featured image by Stock Birken via Unsplash)

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First published in la Repubblica. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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