Italian FinTech deal activity defies trend, set to grow 70% in 2022

• Despite three consecutive quarters of falling FinTech deal activity in Italy, the country is still on track to surpass 2021 levels with an expected 109 FinTech deals in total based on activity from Q1-Q3 2022. Italian deal activity in Q3 reached 12 deals in total a 40% decrease from the previous quarter.
• Investment in the country during Q3 reached $492m which brings total FinTech investment projections for 2022 to $1.35bn, a more than two-fold increase from 2021. Although Q3 investment was bolstered by Satispay’s huge $320m deal, FinTech investment in the country is diverging from other European countries such as the UK and Germany which reported falling investment in Q3 and reduced funding projections for 2022 as a whole.
• Satispay, a mobile payments provider, was the largest Italian FinTech deal in Q3 2022, raising $310.6m in their latest Series D funding round led by Addition. The latest funding makes Satispay Italy’s second unicorn as their valuation exceeds €1bn valuation. Alberto Dalmasso, co-founder and CEO of Satispay, wants to create what he says will be the next leading payment network in Europe and the funds will allow this to happen. He also said “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,”.

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