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.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
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.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Digitization of financial services gives wings to fintech companies to reinvent the industry
Creators of increasingly popular solutions such as mobile applications and digital payments, the leaders of the fintech ecosystem will play...
Fellow Funders opens real estate crowdfunding division
The financial company Fellow Funders opens a new line of real estate business with the crowdfunding of $1 million (€870,000)...
Why the FAANGs have led the way upward
The NYSE FANG Index is the subject of our “Chart of the Week.” High tech rules. But will it continue?...
Gold market is holding strong
For the past eight months the bears have been unable to get the price of gold to correct by 20%....
API fintech TrueLayer cashes in on new $70m round lead by Addition
The injection of new capital will be used to accelerate the global expansion and development of premium open banking services,...
Crypto6 days ago
Ethereum is more similar to a real currency than Bitcoin, says Mark Cuban
Featured6 days ago
Why are chart trends for cocoa futures still down
Crowdfunding6 days ago
CrowdFundMe places clothing brand distribution 3A Sport’s minibond
Featured6 days ago
Wendel integrates ESG into the financial terms of its undrawn syndicated loan