Italian paytech Satispay has landed €320 million in a Series D funding round led by Addition, taking its valuation to more than €1 billion.
The round also saw existing investors Greyhound Capital, Coatue, Lightrock, Block Inc, Tencent and Mediolanum Gestione Fondi SGR take part.
The new funding, which will go towards boosting growth and international expansion, brings the total capital raised by Satispay to more than €450 million since its inception.
Founded in 2013 and based in Milan, Satispay is a mobile payment alternative to credit and debit cards. Through its mobile app, it allows users to pay in physical and online stores and exchange money between friends. It claims to provide merchants a “transparent and advantageous” pricing model, with no activation or monthly fees.
It also offers services such as phone top-ups, bill payments, pagoPA and auto vehicle tax stamps, donations, gift envelopes and savings.
Satispay claims a network of three million consumers and 200,000 merchants.
Alberto Dalmasso, co-founder and CEO of Satispay, says that the company has “more than doubled” its customer base and launched in three new markets in the last two years, with offices in Luxembourg and Berlin. The company currently has around 300 employees.