Satispay conquers TIM, Square and Tencent

Satispay conquers TIM, Square and Tencent
Satispay has announced a new round of investments of 93 million euros, but above all it counts the entry into its group of TIM Ventures, Tencent, Square, Inc., LGT Lightstone. Of these 68 million are in investments, to which are added shares purchased by previous investors. With this new round, the group reaches a valuation of 248 million and the funds raised in capital increases since its foundation have risen to 110 million.

Satispay changes gear

Thus Alberto Dalmasso, co - founder and CEO of Satispay:

Every day it becomes clear how strategic and rich in opportunities is the market in which we operate. All over the world, those who successfully propose new payment models seem to be moving along a common thread. The same that has traced the growth of Satispay and on which we will continue to work: developing value-added services around payment that can be an easy and quick way for users and merchants - even small and independent ones - to take advantage of the digital revolution, without undergo it but riding it by evolving towards proximity e-commerce models. We are honored to welcome new investors who can share their extraordinary experience with us and above all support us in our mission to become the new reference payment network at European level. TIM is a partner we will work with immediately to accelerate growth in Italy even more. Square and Tencent are leaders in mobile payment in the two largest markets in the world and this is for us the best possible confirmation that the model we have created is the right one. LGT Lightstone is an important financial investor, with a size that can guarantee, together with the other shareholders, support for all the needs that Satispay may need in the future to achieve its objectives at European level.

The past tells 130 thousand affiliated merchants and 1.3 million users already active, but the future tells a horizon of a very different dimension. The caliber of the investors on board, in fact, enhances the quality of the project and confirms all the potential that the idea is cultivating. A project born as a small startup in the Cuneo area today definitively enters the Olympus of Italian startups and presents itself at this appointment with an exciting 2020: the pressures of Covid-19 on the markets brought to the group 450 thousand new users in just 10 months and 35 thousand new merchants, with Carrefour, Auchan, Autogrill, Mondadori, KFC and other brands quickly boarded to face this year of general crisis.

In recent months we have not only told our investors about Satispay, but we have Italy told

This is how Dalmasso explains how important and complex it is to welcome foreign capital in the context of an investment of this type, but this signal can be important for the entire national startup ecosystem. In this, Satispay can be a real showcase, avant-garde for the cashless world and great confirmation for the goodness of what has been achieved so far, conquering user after user, smartphone after smartphone, shopkeeper after shopkeeper.

The increase in capital announced today will be submitted to the approval of the Shareholders' Meeting called for tomorrow. The future will be marked by international expansion and an increase in the services provided because the ambition is clear: "to become the definitive payment system", capable of meeting the various needs of individual users and individual merchants. To this end, the group plans to double its team within one year and triple it within two years, as this is the time to accelerate and transform Satispay into the absolute leader of digital payments, in Italy and beyond.

Powered by Blogger.