ROME – Satispay, Italy’s cellular app funds startup, mentioned on Wednesday it's now valued at greater than 1 billion euros ($955 million) after elevating 320 million euros in a brand new spherical of investments.
U.S. funding agency Addition has change into the lead investor within the firm, which may now boast “unicorn” standing. Enterprise capital agency Greyhound Capital, a shareholder since 2018, additionally elevated its stake, an organization assertion mentioned.
Hedge fund Coatue Administration, personal fairness agency Lightrock, Block Inc., China on-line big Tencent and Italy’s Mediolanum Gestione Fondi Sgr, all Satispay buyers since 2021, are among the many different current shareholders who participated within the new funding spherical.
Based in 2013, Satispay supplies a cellular app that enables customers to pay in shops, alternate cash with mates and pay fines.
The brand new investments will enable Satispay to change into “the following main fee community in Europe,” mentioned firm co-founder and CEO, Alberto Dalmasso.
Satispay has the capital, the expertise and the required abilities, and within the final two years it doubled its buyer base, increasing in three extra European nations, the CEO added.
“It’s actually a brand new starting and we really feel extra decided than ever,” Dalmasso concluded.
The completion of the closing of the Collection D spherical is topic to regulatory approval.
($1 = 1.0473 euros)
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