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- Satispay
Satispay Revenue, Valuation, Funding & Investors
Satispay is valued at $980M as of September 2022, a 6.1x multiple on its last reported $160M revenue.
Last Satispay valuation
$980M
Series D · Sep 2022
Last Satispay funding round
$64M
Undisclosed stage · Nov 2024
Satispay revenue
$160M
Series D · Sep 2022
Key investors in Satispay
Lightrock
Greyhound Capital
Bossa Invest
Tencent
Addition
Club degli Investitori
About Satispay
Satispay is a Milan-headquartered mobile payment platform operating across Italy, France, and Germany. Independent from traditional debit and credit cards, it facilitates in-store and online transactions through a dedicated app, alongside peer-to-peer money transfers. Merchants accept payments via smartphone, tablet, or PC integrations, enjoying lower fees compared to card networks. Consumers benefit from secure, contactless payments at over 200,000 affiliated retailers including Esselunga supermarkets and Decathlon stores. Launched in 2015, Satispay processes billions in annual transaction volume, positioning it as a leading alternative payment network in Europe with partnerships alongside major banks like Intesa Sanpaolo.
Founded
2013
HQ
Website
Status
Privately held
Customer focus
B2C & B2B
Revenue model
Commission
Revenue
$160M (Sep 2022)
Valuation
$980M (Sep 2022)
Satispay Valuation
Satispay is currently valued at $980M, based on its Series D in September 2022.
The $314M round was led by Addition, with participation from Mediolanum Gestione Fondi SGR, Tencent, Lightrock, Coatue, Block and 2 other investors.
Satispay's valuation has grown 8.5x from $115M at its Series B in July 2018 to $980M in September 2022, across 3 priced rounds.
Satispay valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Sep 2022 | Series D | $980M | 6.1x |
| Nov 2020 | Series C | $285M | 4.1x |
| Jul 2018 | Series B | $115M | - |
Satispay Revenue
Satispay's latest recorded revenue is $160M, as of its Series D in September 2022. At a $980M valuation, that implies a 6.1x revenue multiple.
Revenue grew from $69M in November 2020 to $160M in September 2022, while the revenue multiple moved from 4.1x to 6.1x.
Satispay revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Sep 2022 | $160M | $980M | 6.1x | Series D |
| Nov 2020 | $69M | $285M | 4.1x | Series C |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Satispay Funding History
Satispay has raised a total of $536M across 8 funding rounds.
Satispay's first fundraising round was a $600K angel round in June 2013. The most recent completed round was a $64M undisclosed-stage round in November 2024.
Satispay funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2024 | Undisclosed stage | Addition; Lightrock; Greyhound Capital | $64M | - | Satispay is an Italian fintech unicorn providing a mobile payments network that bypasses traditional card infrastructure, enabling direct transfers, in-store and online payments, P2P transfers, and services like meal vouchers, bill payments, and gift cards. It serves 5 million users and 380,000 merchants across Italy, France, and Luxembourg, with merchants paying a fixed 20 cents per transaction over €10 instead of percentage fees. In late 2024, Satispay raised €60 million (about $63-63.9 million) from existing investors including Addition, Greyhound Capital, and Lightrock, bringing total funding to over €500 million ($530-536 million). This Series E extension supports European expansion, entry into employee benefits (12,000 client companies, 50,000 users in first year), and planned 2025 launch of retail investment services. |
| Sep 2022 | Series D | Addition (lead); Mediolanum Gestione Fondi SGR; Tencent; Lightrock; Coatue; Block; Proximity Capital; Greyhound Capital | $314M | $980M | Satispay is a Milan-based fintech company founded in 2013 that operates an independent mobile payment network alternative to traditional credit and debit cards, allowing users to pay in stores and online, transfer money peer-to-peer, and access services like bill payments, phone top-ups, donations, savings, and gift envelopes. The platform bypasses big banks with lower transaction fees and better budget control, integrating with existing bank accounts via a pre-pay wallet model. As of September 2022, it had 3 million consumers and 200,000 merchants including major brands like Auchan, Benetton, and Carrefour, with users averaging 10-18 transactions per month. On September 28, 2022, Satispay raised €320 million (approximately $305-307 million) in a Series D round led by Addition, with participation from Block, Coatue, Greyhound Capital, Lightrock, Mediolanum Gestione Fondi SGR, Proximity Capital (noted in some sources), and Tencent. This round valued the company at over €1 billion post-money (around $955 million-$1 billion USD equivalent), marking it as an Italian unicorn and one of the largest tech funding rounds in Italy's history. Prior to this, Satispay had raised about €130 million across three earlier rounds, bringing total funding to around $466 million at that time. The funds are earmarked for product expansion and geographic growth beyond Italy, where it dominates, into France and Germany where it has begun operations, with offices also in Luxembourg and Berlin. The company had around 300 employees in 2022 and demonstrated strong traction, including use cases like government food stamps and contactless payments during COVID. Subsequent rounds include a Series E in November 2024 for $63.9 million. |
| Nov 2020 | Series C | Block (lead); Lightrock (lead); Tencent (lead); TIM Ventures (lead); Club degli Investitori; Bossa Invest | $111M | $285M | Satispay is an Italian fintech startup providing a mobile payments network that enables consumers to pay at merchants via app without sharing card details, reducing fees for retailers and simplifying transactions. The company launched in 2013 and had established leadership in Italy by 2020 with over 1.3 million consumers and 130,000 merchants. In November 2020, Satispay closed a €93 million Series C round, consisting of €68 million in primary shares and €25 million in secondary shares from existing investors, bringing total primary capital raised to €110 million since inception. The round was co-led by Block (then Square Inc.), Tencent, LGT Lightstone (also listed as Lightrock), and TIM Ventures, matching the specified investors including Bossa Invest and Club degli Investitori from prior rounds. It was completed at a €180 million pre-money valuation, resulting in a post-money valuation of €248 million. Funds were allocated to consolidate dominance in Italy and accelerate international expansion into Luxembourg and Germany, where early momentum was noted. Traction in the first 10 months of 2020 included 21.5 million transactions with €400 million transaction volume, up 78% year-over-year, plus 450,000 new users and 35,000 new merchants amid the COVID-19 pandemic. This positioned Satispay as a key independent payment network in a competitive market transitioning to mobile solutions. Subsequent rounds, like the 2022 Series D raising €320 million at over €1 billion valuation led by Addition with participation from Greyhound, Block, Tencent, and others, highlight ongoing growth toward European scale. |
| Jul 2018 | Series B | Copper Street Capital (lead); Club degli Investitori; iStarter; Gruppo Bertoldi; Endeavor Catalyst; Bossa Invest; Greyhound Capital | $18M | $115M | Satispay is an Italian mobile payments service founded in 2013 that allows users to pay in physical and online stores, exchange money between friends, and access services including phone top-ups, bill payments, and donations through a mobile app. The company provides merchants a transparent pricing model with no activation or monthly fees, positioning itself as an alternative to traditional credit and debit cards. In July 2018, Satispay closed a €15 million funding round led by Copper Street Capital, with participation from new international investors Endeavor Catalyst and Greyhound Capital, as well as existing shareholders. The round took the company's total funding to approximately €37 million, and the company's valuation exceeded €100 million at that time. The capital was intended to support continued product development and establish the foundation for international expansion beyond Italy. At the time of the funding, Satispay had achieved 340,000 active users and signed up 44,000 merchants. The company's co-founder and CEO Alberto Dalmasso noted that despite operating only in the Italian market, the company had attracted international attention due to its technology and metrics comparable to larger international competitors. The company explicitly stated its objective to close a Series C financing round of €50 million not before 2019, though the July 2018 round was structured as an extension to accelerate the opening of its shareholder base to international investors. |
| Apr 2017 | Series B | Banca Sella Holding; Banca Etica; Boost Heroes; Iccrea Banca | $20M | - | - |
| Sep 2015 | Series A | Giuseppe Donagemma; Jonathan Weiner; Nick Carbonari; Ray Iglesias; U-Start | $4M | - | Satispay raised $3.4 to $3.5 million in a Seed funding round in September 2015 from investors including Jonathan Weiner, Ray Iglesias, Nicola Carbonari, Giuseppe Donagemma, Iccrea Banca, and others. The Italian mobile payments company was founded in 2015 and positioned itself as a merchant-focused electronic payment solution for retailers of all types. At the time of the Seed round, Satispay had already registered approximately 19,000 merchants across Italy and was adding roughly 70 new merchants daily. The company did not disclose post-money valuation, revenue figures, or EBITDA metrics for this early-stage funding round. |
| Jan 2015 | Series A | - | $6M | - | Satispay is an Italian mobile payment platform launched in January 2015, independent of cards, enabling payments via smartphones for merchants and consumers. It employs a merchant-first strategy to onboard retailers across Italy. A seed round raised $3.4 million in September 2015 from investors including Iccrea Banca, Jonathan Weiner, Ray Iglesias, Nicola Carbonari, and Giuseppe Donagemma. |
| Jun 2013 | Angel | - | $600K | - | - |
Who has invested in Satispay?
24 investors have backed Satispay across its funding rounds, including Lightrock, Greyhound Capital, Bossa Invest, Tencent, Addition and Club degli Investitori.
Lead investors include Addition, Block, Lightrock, Tencent, TIM Ventures and 1 other investor.
Satispay Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Nov 2020 | ||
| 3 | Participant | Jul 2018 | ||
| 2 | Participant | Jul 2018 | ||
| 2 | Lead | Nov 2020 | ||
| 2 | Lead | Sep 2022 | ||
| 2 | Lead | Nov 2020 | ||
| 2 | Participant | Jul 2018 | ||
| 1 | Participant | Apr 2017 | ||
| 1 | Lead | Nov 2020 | ||
| 1 | Participant | Sep 2015 | ||
| 1 | Participant | Sep 2022 | ||
| 1 | Participant | Apr 2017 | ||
| 1 | Participant | Apr 2017 | ||
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Start Free TrialAcquisitions by Satispay
Satispay has acquired 2 companies to date.
Last acquisition by Satispay was on January 3rd 2023. Satispay acquired Onyon for undisclosed valuation.
Latest Acquisitions by Satispay
| Description | Onyon is a self-service mobile ordering system for in-store purchases via smartphone. Customers scan menus, place orders, and pay without queues at restaurants and cafes. Deployed in Europe, Onyon supports repeat ordering and table-side reordering for dine-in experiences. | AdvisorEat is a loyalty app developer for consultants and professionals, enabling restaurant reservations with credits redeemable for e-shop gift cards or donations. Paris-based, it connects firms with service providers for consulting and management needs. |
| HQ Country | ||
| HQ City | Turin | Milan |
| Deal Date | 3 Jan 2023 | 15 Jul 2021 |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Satispay acquisitions and their M&A valuation multiples. Start Free Trial | ||
Satispay Competitors
Satispay competitors include listed companies like PicPay and PaySign, and private ones like Interswitch, Stax, TransferMate and Hala.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $300M | - | $1B | 3.3x | ||
| Private | - | - | $1B | - | ||
| Private | - | - | $1B | - | ||
| Private | - | - | $900M | - | ||
| Publicly listed | $1.2B | $205M | $1.2B | 0.5x | ||
| Publicly listed | $82M | $16M | $701M | 6.4x |
Satispay Public Comps
Satispay is still privately-owned, but its public comps include Eurowag, Worldline, Deluxe, SY Holdings Group, PicPay, Fawry, Cass Information Systems, Digital Garage, PaySign and SLR Digital Finance.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $2.7B | $119M | 0.5x | 3.0x | 10.3x | 7.5x | |||
| $4.6B | ($5.2B) | 0.6x | 0.7x | (0.6x) | 3.8x | |||
| $2.1B | $379M | 1.2x | 1.2x | 6.7x | 5.6x | |||
| $135M | $120M | 5.8x | - | 6.5x | - | |||
| $1.2B | $205M | 1.0x | 0.5x | 6.0x | 3.8x | |||
| $166M | $73M | 6.8x | 5.2x | 15.4x | 9.6x | |||
| $182M | - | 4.6x | 4.1x | - | - | |||
| $263M | $51M | 1.9x | 1.9x | 10.0x | 10.3x | |||
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Common questions about Satispay
| When was Satispay founded? | Satispay was founded in 2013. |
| Where is Satispay headquartered? | Satispay is headquartered in Milan, Italy. |
| Is Satispay publicly listed? | No, Satispay is a private, VC-backed company. |
| What is Satispay's valuation? | Satispay was last valued at $980M in its Series D in September 2022. |
| How much funding has Satispay raised? | Satispay has raised $536M across 8 funding rounds. |
| What was Satispay's last funding round? | Satispay's last funding round was a $64M undisclosed-stage round in November 2024. |
| Who are Satispay's investors? | Satispay's investors include Lightrock, Greyhound Capital, Club degli Investitori, Tencent, Addition, Block, Bossa Invest, Banca Sella Holding, TIM Ventures, Giuseppe Donagemma and 14 others. |
| What is Satispay's revenue? | Satispay's latest recorded revenue is $160M (September 2022). |
| What is Satispay's revenue multiple? | Satispay's latest valuation implies a 6.1x revenue multiple ($980M valuation on $160M of revenue). |
| Which companies are comparable to Satispay? | Companies comparable to Satispay include Interswitch, Stax, TransferMate, Hala, PicPay and PaySign. |
| How many companies has Satispay acquired? | Satispay has acquired 2 companies, including Onyon and AdvisorEat. |
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