Nov 20, 2020

Satispay raises €93m in round led by Square and Tencent

investment
Satispay
digital payments
Fintech
Rhys Thomas
2 min
The Italian fintech nearly doubles Series C funding goal with eyes on rapid expansion into key European markets
The Italian fintech nearly doubles Series C funding goal with eyes on rapid expansion into key European markets...

Italian fintech startup Satispay has raised €93m through a sale of newly issued shares, almost doubling its initial €50m funding goal for the round.

The Series C was co-led by industry investment from US payments firm Square and China’s tech giant Tencent. LGT Lightstone and Telecom Italia’s corporate VC investment arm TIM Ventures were also involved in the sale, which comprised €68m new primary shares and around €25m secondary shares. Satispay’s total funding now stands at €110m since launching in 2013. 

The successful round follows a strong year to date for Satispay, which processed 21.5m transactions with a value of €400m during the period, a 78% increase on the same window in 2019. New user numbers swelled by 450,000 against the backdrop of COVID-19, and 35,000 new affiliated merchants signed up to the service. 

European expansion “in a smart manner”

Satispay will now look to cement its leadership position in domestic Italy, where it has reached 1.3m consumers and 130,000 merchants, and expand into other European markets. The fresh capital will be put to work in Luxembourg and Germany, two territories where it has already taken strides and is experiencing “great momentum”. 

During a video press conference, Satispay cofounder and CEO Alberto Dalmasso revealed that more than 200 merchants have signed up to Satispay since it launched in Luxembourg’s capital, while in Germany it expects to attract merchants in a handful of new cities beyond Berlin. A round of talent acquisition will support this international growth, and bring new expertise to the company’s product development division. 

“[2020] has been a long and hard year,” Dalmasso said. “We need to keep growing in a smart manner and make the difference, everyday, for users and merchants at the national and European level,” he added

Share article

Jun 17, 2021

Tink partners with Novalnet AG for open banking payments

novelnet
Tink
Fintech
Digitalpayments
2 min
Novalnet AG will collaborate with Tink for the fintech’s payment initiation services

The Munich-based fintech Novalnet AG, which was founded in 2007 and is one of Europe’s leadingfintech companies, has announced a new partnership with Tink, the Swedish open banking platform currently connected to more than 3,400 European banks.

Novalnet AG delivers payment solutions and fully automated services, from checkout to debt collection. Its solutions are also available worldwide. 

According to reports, the fintech company plans to launch a real-time payments feature for merchants across Europe, to expand its current services and enhance the transaction experience it operates through its platform. 

The new feature, says Novalnet, will revolutionise payments for ecommerce with transactions being credited to merchant’s accounts almost instantly. 

Novalnet partnership with Tink

By partnering with Tink for payment initiation services (PIS) technology, Novalnet will take previous region-specific payment methods and offer a new unified digital payments service to its merchants across Europe. 

The fintech’s real-time merchant payments feature, which will be launched initially in Germany and the United Kingdom, will then be integrated across other European markets during 2021. 

Speaking about the new collaboration, Emmanuel Kirse, COO of Novalnet, explained, "We expect great things from our strategic partnership with Tink, which is a significant development for both parties. 

“With Tink, Novalnet can offer a new set of open banking-related solutions in Europe. The new opportunities offered by this partnership will help both Tink and Novalnet grow together, along with our merchants." 

Cyrosch Kalateh, Regional Director for the DACH region at Tink said, “Our partnership with Novalnet is a big step for Tink in the German market, and we are excited to work together to bring new, innovative payments services to merchants across Europe.”

He added, “At the end of 2020 Tink committed to expanding its payment initiation services from five to 10 markets, fuelled by an €85mn investment round. We are proud to add Germany to this list by announcing we have now fully launched Tink’s PIS services in this market.”

Image credit: Novalnet AG

Share article