Satispay, the Milan-based paytech company that achieved unicorn status in September 2022, has successfully raised €60 million in a recent funding round, bringing its total funding to over €500 million.

This funding round was led by existing shareholders, including Greyhound Capital, Lightrock, and Addition, a New York-based venture capital firm.

The latest investment follows Satispay's significant €320 million Series D funding in September 2022, which valued the company at over €1 billion.

The raised funds will also enable Satispay to explore potential acquisitions in the welfare and investment sectors, should suitable opportunities arise.

Dalmasso noted that the latest funding was secured earlier than anticipated and in larger amounts than necessary, reflecting strong investor confidence.

Satispay's innovative platform bypasses traditional card infrastructure, facilitating direct transfers and payments through its mobile app, and has attracted 5 million users and 380,000 merchants across Italy, France, and Luxembourg.

The service enables a variety of transactions, including payments in physical and online stores, peer-to-peer money transfers, and access to services like meal and gift vouchers, mobile top-ups, and tax payments.

In the past year, Satispay has expanded its offerings to include corporate meal vouchers and employee fringe benefits, gaining 12,000 client companies and 50,000 users.

The new funding will support Satispay's plans to launch investment services for retail customers in 2025 and enhance its cash reserves for growth and potential acquisitions.

As part of this funding round, changes in shareholder voting rights have increased the founders' voting power from three to five votes per share, restoring their majority control.

CEO Alberto Dalmasso highlighted the strong partnership with investors and the critical role of this funding in accelerating the company's growth.

Founded in 2013 by Dalmasso, Samuele Pinta, and Dario Brignone, Satispay was established as a mobile payment alternative to traditional credit and debit cards.