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Tim Ventures aims at a 10% stake in the fintech company Satispay
Last August, press rumors reported that in January 2021 the new Satispay mega-round could see the light of day. The round had already been announced in July 2018 by co-founder and CEO Alberto Dalmasso who, at the closing of the first tranche of the previous round, had anticipated that the fintech company would return to investors for a next round of $59.2 million (€50 million) in 2019.
Tim, through its corporate venture capital Tim Ventures, aims to acquire just under 10% of the Italian fintech company Satispay. That was reported by la Repubblica, according to which the Italian telecommunications group would acquire the share from Iccrea Banca for about $17.7 million (€15 million), for a total valuation of about $177 million (€150 million).
Something more will probably be announced soon, during a virtual press conference called by the fintech company, entitled “New growth phase”. This suggests that the Tim Ventures operation is part of a wider operation of further capital raising.
If you want to find more details about the participation of Tim Ventures in the fintech company Satispay and to read the most important financial news, download for free our companion app. Born2Invest mobile app brings you the latest market updates and trends for you to stay informed.
Satispay has already received from investors about $49.7 million (€42 million)
Last August, press rumors reported that in January 2021 the new Satispay mega-round could see the light of day. The round had already been announced in July 2018 by co-founder and CEO Alberto Dalmasso who, at the closing of the first tranche of the previous round, had anticipated that the fintech company would return to investors for a next round of $59.2 million (€50 million) in 2019. Satispay then closed that round in September 2018 for a total of $17.7 million (€15 million), with a post money valuation of $136 million (€115 million). To date, the startup has received about $49.7 million (€42 million) from investors.
At the 2021 round of Satispay it is said that Mediaset could also participate with a media for equity agreement
The last round had seen the renewed support of Iccrea Banca, which supports the Satispay project since its inception, and the new partner Banca di Piacenza. The first part of the increase was closed mainly thanks to the investment of Copper Street Capital and the investments of Endeavor Catalyst and Greyhound Capital funds and Banca Valsabbina, Sparkasse and Club degli Investitori di Torino. The banks, therefore, in the capital of Satispay begin to be several, if we consider that in previous rounds, in addition to those mentioned, had also entered Banca Etica, Banca Sella Holding and Banca Alpi Marittime.
At the 2021 round of Satispay it is said that Mediaset could also participate with a media for equity agreement, as the group is used to do through its Corporate venture capital Ad4Ventures. In the meantime, however, it is known that Mediaset has already entered, albeit with a very small share, in the capital of Satispay, through its subsidiary Reti Televisive Italiane (Rti).
Founded in 2015 by Alberto Dalmasso together with Dario Brignone and Samuele Pinta, Satispay allows making payments with the smartphone through a wallet with direct debit to the current account. In 2019 the company has expanded its activity to cell phone top-ups and automatic piggy bank.
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(Featured image by blende12 via Pixabay)
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First published in Be Beez, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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