The Intesa Sanpaolo Group has invested €7m into MatiPay, a digital payment service for vending machines.
Following the close of the round, the FinTech hopes to accelerate growth into international target markets, including Europe, Japan and the USA.
This deal helps the bank to expand its range of asset management services through the integration with existing products or the development of new ones.
Headquartered in Italy, the company has built a payment solution which helps replace the physical keypads installed on vending machines with a digital payment terminal.
Intesa Sanpaolo CEO and managing director Carlo Messina said, “This project opens a new strategic perspective because it leverages the DNA of three generations of innovators – in key sectors such as aerospace, railway and Internet of Things -, fulfils the dream of a young entrepreneur to develop new technologies in his country to be spread around the world, and invests in a land rich in values where tradition and innovation can serve as an example to be replicated for the growth of the country.”
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