Italy-based mobile payment technology developer Satispay has raised €10m ($11.7m) in funding from investors including financial services firms Banca Valsabbina and Sparkasse – Cassa di Risparmio di Bolzano, Finextra has reported.
Copper Street Capital, Endeavor Catalyst, Greyhound Capital and Club degli Investitori di Torino also invested, and the cash makes up the first tranche of a round expected to close at €15m.
Founded in 2013, Satispay has developed a mobile platform that allows users to send money to each other, split bills in restaurants and top up the credit on their phones. It was valued at $117m in the latest round, according to Finextra.
Satispay received $21.5m in a September 2017 series C round backed by financial services firms Banca Etica, Iccrea and Banca Sella, Shark Bites and assorted angel investors, at a reported $79m post-money valuation.
Banca Sella took part in the 2017 round through its strategic investment arm, Sella Ventures. Iccrea Banca previously participated in a €3m round for Satispay in 2015 alongside various angel investors.