Satispay announced €93M series C backed by Tencent, Square, LGT Lightstone and TIM Ventures.

Satispay, a Milan, Italy-based mobile payments processor, announced a €93 million Series C investment round.

The round consists of €68M of newly issued primary shares and approximately €25M secondary shares purchased from existing investors.

The new equity is co-led by Square, Inc., Tencent, LGT Lightstone and TIM Ventures and was completed at a €180M pre money valuation.

The proceeds will help Satispay to consolidate its leadership position in Italy while also accelerating its international expansion that already started in Luxembourg and Germany, where it is experiencing strong momentum.

Satispay, founded in 2013 by Dario Brignone, Alberto Dalmasso (CEO), Samuele Pinta, operates a mobile payment processor, with over 1.3 million consumers and 130 thousand merchants. During the first 10 months of the year, Satispay processed about 21,5M transactions accounting for €400M in transaction volume, recording a 78% increase against the same period in 2019.

Upon closing of this round, Satispay has now reached a total of €110M in primary capital raised since its inception in 2013; having already raised €42M from business angels as well as industrial and international investors during the series A and B rounds.