Satispay, a Milan, Italy-based fintech startup, raised €14m in its latest funding round.
The round, still open and with a final target of €16m, brings total funding to date to €22.5m and launches the valuation of the company close to €50m.
According to local reports, backers include existing shareholder Iccrea Banca and other undisclosed investors.
Co-founded by Alberto Dalmasso, CEO, Dario Brignone, IT & Organization, and Samuele Pinta, COO, Satispay provides a mobile payment system that allows people to pay on stores and friends from their smartphone. The service, completely free, can be used by anyone above 18 years old with an Italian bank account or prepaid card with an Italian IBAN code.
The app is available for iPhone, Android and Windows Phone.