London/Zurich, 6 April 2021
Lightrock, a global impact-investing pioneer investing into scalable and tech-driven businesses around the key impact themes of people, planet, and productivity/tech for good, completed its Series C investment into Satispay, the leading Italian fintech revolutionizing mobile payments across Europe. Lightrock co-led the round together with Square, Inc. - a leading American fintech company, Tencent - a leading global internet company, and TIM Ventures - the corporate venture capital arm of Telecom Italia.
Founded in 2013 and headquartered in Milan, Satispay is a fintech company that provides a bank account enabled mobile payment platform. Available for both consumers and merchants, Satispay is able to process all payments with a structural cost advantage by connecting directly to the consumer and merchant bank accounts. As a result, consumers can pay friends and stores without any charges while merchants can finally accept payments with a cost-effective, convenient, and easy-to-use solution.
With EUR 68m, Satispay’s Series C round well exceeded the initial target of EUR 50m, and will help Satispay to consolidate its leadership position in Italy while also accelerating its international expansion that already started in Luxembourg and Germany. Satispay is enjoying strong momentum and has now reached over 1.6 million consumers and 150 thousand merchants.
Lightrock’s investment in Satispay is motivated by the accelerating global move towards a cashless society and the resulting infrastructure enablers required to transform and democratize finance for all market participants. Umur Hursever, Partner at Lightrock, says:
“We are excited to partner with the Satispay founders and team to accelerate their vision of becoming a leading payment network across Europe and look forward to working with them in their ambition towards a cashless society.”
Lightrock is a global private equity platform investing in sustainable businesses built by purpose-driven entrepreneurs, committed to innovation for systemic change at scale. Since 2007, Lightrock has invested in companies that pursue scalable and tech-driven business models around the key impact themes of people, planet, and productivity/tech for good. Lightrock’s portfolio includes more than 50 high-growth companies, supported by over 50 professionals based in 7 cities across Europe, Latin America, India and Africa. Lightrock is backed by the Princely House of Liechtenstein and LGT, the international private banking and asset management group.