In what’s turning out to be the week of the Italians, Milan-based mobile payment network Satispay has announced the raise of €320 million in a Series D round, at a valuation north of €1 billion. The round was led by former Tiger Global Partner Lee Fixel’s fund, Addition, and saw the participation of existing investors Greyhound Capital, Coatue, Lightrock, Block Inc., Tencent and Mediolanum Gestione Fondi SGR.
Satispay’s new capital will be used to further fuel the company’s home market growth as well as shift international expansion plans into high gear. To date, the startup has raised approximately €488 million.
Founded in 2013 and launched in 2015, Satispay is independent of debit and credit cards. The service allows businesses of any size to accept payments from customers via their smartphones, tablets, or PCs.
According to the startup, they serve over 3 million consumers and 200,000 merchants including small and medium retailers as well as international brands in Italy, Germany, Luxembourg, and France.