Satispay Seeks €120 Million to Add Stocks and Pensions as Revenue Jumps 80%
Updated
Updated · Tech Funding News · Jun 11
Satispay Seeks €120 Million to Add Stocks and Pensions as Revenue Jumps 80%
3 articles · Updated · Tech Funding News · Jun 11
Summary
Satispay is raising up to €120 million through a pre-emptive rights issue, with shareholders set to vote on June 29, to launch pension subscriptions by autumn and add stock and ETF trading later.
About half the funding is already committed by returning investors Addition, Greyhound Capital and Lightrock, while Satispay says its valuation remains above €1 billion and total funding would top €500 million.
The push targets Italy’s €1.27 trillion in household bank deposits, roughly 90% of them in near-zero-yield overnight accounts, as Satispay argues app convenience can turn payment users into investors.
Satispay enters the expansion with 6.5 million users, 450,000 merchants and annualised revenue of €116 million, up 80% year on year; its existing investment products already have 500,000 users and €140 million in assets.