Italian unicorn Satispay has successfully raised €60 million, surpassing the significant milestone of five million users.
The funding, contributed by existing shareholders Addition, Greyhound, and Lightrock, brings the total amount raised by the company to over half a billion euros. Satispay offers a mobile payment service designed as an alternative to traditional credit and debit cards. This service features a cost-effective model for merchants, with no activation or monthly fees and only a flat fee of 20 cents for transactions exceeding €10. Based in Milan, Satispay has grown to employ around 650 people.
This latest funding round comes as the company experiences sustained growth, expanding its merchant network to 380,000 and entering the employee benefits sector with the introduction of corporate meal vouchers. Satispay has also seen significant developments in this area, reaching over 12,000 client companies and exceeding 50,000 users within the welfare segment.
Looking ahead, Satispay is set to diversify its offerings further with an upcoming launch of investment services.
Co-founder and CEO Alberto Dalmasso stated, “Based on our analysis of the results achieved with a portion of the raised funds, they are now providing us with even more fuel to push harder on the growth accelerator. Being able to do this by raising funds earlier and in excess of what was strictly necessary, especially in a market context affected by sudden geopolitical shifts and a more challenging venture capital landscape due to interest rate trends, is a great privilege.”