Satispay, a Milan, Italy-based mobile payments startup, raised €93m in Series C funding.
The round – completed at a €180M pre money valuation – consists of €68M of newly issued primary shares and approximately €25M secondary shares purchased from existing investors. Upon closing of this round, Satispay has now reached a total of €110M in primary capital raised since its inception in 2013 having already raised €42M from business angels as well as industrial and international investors via series A and B rounds.
The round was co-led by Square, Tencent, LGT Lightstone and TIM Ventures. The formal closing is subject to customary closing conditions and is expected to complete by the end of the year.
The company intends to use the funds to consolidate its leadership position in Italy while also accelerating its international expansion in Luxembourg and Germany.
Led by founders Alberto Dalmasso (CEO), Dario Brignone (IT and Organisation Director), and Samuele Pinta (COO), Satispy provides a bank account enabled mobile payment platform that is independent from debit and credit card networks. The app is available for anybody with a bank account while merchants both online and offline can accept payments using any kind of device and POS.
The company has now reached over 1.3 million consumers and 130 thousand merchants.