New capital increase for the Italian unicorn Satispay. Despite not yet achieving profitability (not strange for a startup), the app created just over ten years ago by three young people from Cuneo for digital payments and sending money has just raised another 60 million euros.
This round brings the total raised by the company to over 500 million euros, further consolidating its position as a Unicorn (startup valued at over one billion euros). With over 5 million users and 380,000 participating merchants, Satispay is an Italian success story in the fintech landscape.
Founded by three young entrepreneurs from Cuneo, Dario Brignone, Samuele Pinta and Alberto Dalmasso, the Italian fintech was born with the aim of creating a mobile alternative to traditional credit and debit card circuits. It then diversified the business over the years, expanding the offering and including services such as telephone top-ups, bill payments, and, more recently, wellness. So the meal vouchers and fringe benefits (in one year 50 thousand users and 12 thousand companies). And in the future there is talk of landing in the world of investments. In 2022, thanks to an investment of 320 million euros, the leap: Satispay has become a Unicorn.
There have been losses over the years: in 2022 (60 million euros) and in 2023 (46.6 million euros), but the financial position speaks of a net worth of 155 million and liquidity of around 50 million. And in the latest financial report a section dedicated to the evaluation of business continuity appeared.
Now the capital increase, supported by three main investors: the US funds Addition, Greyhound and Lightrock, the global private equity platform that invests in sustainable businesses. 60 million which allows Satispay to think about possible strategic acquisitions, as well as guaranteeing the resources necessary to support its growth plan. An important aspect of this funding round is also the recovery of the majority of voting rights from the founders. With an increase in voting rights from 3 to 5, Dalmasso, Brignone and Pinta regain control of the company.
