Satispay becomes Italian unicorn with €320m raise

Satispay, a Milan-based payment network, has raised €320m in Series D funding, exceeding a €1bn valuation, seeing it become the latest Italian unicorn.

According to a report from EU Startups, the round was led by Addition. The raise also saw Greyhound Capital, a shareholder since 2018, increase its stake in the company.

Other participating investors included Coatue, Lightrock, Block Inc., Tencent and Mediolanum Gestione Fondi SGR.

Satispay describes itself as the mobile payment network alternative to credit and debit cards.

Satispay’s mobile payment super network was launched in 2013 with the goal of becoming the every-day payment solution for consumers across Europe and has received significant market attention since its previous Series C round.

The Satispay app allows users to pay in physical and online stores and exchange money between friends, as well as benefiting from a range of other services such as phone top-ups, bill payments, pagoPA and auto vehicle tax stamps, donations, gift envelopes and savings

Today, 3 million consumers and 200k merchants use Satispay, including small stores but also big brands such as Esselunga, Auchan, Benetton, Carrefour, Boggi, Trenord, Eataly, McDonald’s Tigotà, Autogrill, Trenitalia and many more.

The Italian unicorn offers users a simple, immediate and secure payment experience, and merchants a transparent and advantageous pricing model, with no activation fees or monthly fees.

Alberto Dalmasso, co-founder and CEO of Satispay, said, “We are very pleased that, following this round, we feel we have the right tools and resources to accomplish our vision of creating the next leading payment network in Europe. Not only do we believe we have the necessary capital, but we also have the experience and expertise. In the last two years, we have experienced exceptional growth, more than doubling our customer base and launching in three new markets. We have also been able to bring in a lot of additional talent to our teams, helping us transform Satispay into a bigger, more structured competitive reality. It is truly a new beginning and we feel more determined than ever.”

Back in February, PayTech platform Scalapay become Europe’s latest unicorn at the time, with it reaching the status after the close of a $497m Series B round.

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