Satispay

paymentsp2p payments

FOUNDING YEAR: 2013
LOCATION: Italy
Last Update: 01/05/2020

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About

Satispay is a mobile payment system completely independent from banks and debit/credit card networks. Now available in all the Italian Market, soon in the rest of Europe. Satispay works with any bank or mobile operator so that everyone can: • exchange money with their friends, • pay in affiliated stores (both physical and online) All types of businesses are able to accept payments made through our application: • without the need to acquire a POS • without service activation costs • without monthly fees. Thanks to it's independency Satispay is able to offer it's service without any costs for all the consumers. Merchants do not have any fees to accept payments below 10 €, and a fixed fee of only 0,20 € for each payment with an amount greater than 10 €.

MEDICI Analysis

Satispay is a payment network firm. It offers a smartphone application that can be used for peer to peer money transfer, in-store and online purchases and nonprofit donations through a cross-platform mobile app.

Focus

PRODUCTS & SERVICES

Satispay app for peer to peer money transfer, retail purchase services. It is simple and smart way to exchange money on mobile app.

REVENUE MODEL

Satispay is free for home users. It charges for business transaction a fixed fee of 20 cents of more than 10 euros.

MAIN CLIENTS

Online Retail Consumers

EXISTING PARTNERSHIPS

Partnered with NTT data.

PRIMARY PROBLEM SOLVED

In order to increase security and reduce costs, the company eliminated credit cards, and invented a new system that links the app to the customer’s bank account using the IBAN code. The once complex and costly payment process has thus been transformed by a unique app.

INTELLECTUAL PROPERTY

Patent(s) FILED

COMMENT

The independent payment network allows users to set their weekly budgets and spend accordingly.

Traction

VALUATION / MARKET CAP:

$117.02 M in 2018

REVENUE

$100k - $499

NUMBER OF TRANSACTIONS:

200.00

TRANSACTIONS VALUE:

5 M

ACTIVE USERS:

340000 Million in 2018

ACTIVE USERS COMMENT:

On average an active consumer performs 6 transaction per month and has a 60 retention over the first 12 month after the first transaction.

TRACTION COMMENT:

The company has reached over 600,000 downloads and has more than 340,000 active users. (Jul. 2018)

People

FOUNDERS

Alberto Dalmasso

Dario Brignone

Samuele Pinta

BOARD MEMBERS AND ADVISORS

Carlo Gelfo

Fabio Zoffi

Giuseppe Donagemma

Jon Koplin

Marco Taricco

Mirco Fiumene

NUMBER OF EMPLOYEES

51-200

INVESTORS:

3LB Seed Capital

Banca Popolare Etica

Banca Sella Holding

Boost Heroes

Iccrea Banca

Shark Bites

U-Start

KEY EMPLOYEES:

Andrea Allara

Dario Brignone(CEO); Samuele Pinta(COO)

Momentum

FUNDED

YES

TOTAL FUNDING

$62.02 M

DATE OF LAST FUNDING

Jul 2018

SEED & PRIOR FUNDING

$1.1 M

SEED CLOSED ON

Jul 2014

FUNDING SERIES

SERIES A  · $9.85 M  · Sep 2015

SERIES B  · $39.37 M  · Jul 2018

SERIES C  · $11.7 M  · Jul 2018

DEBT FUNDING

$820 K

LISTED

NO

BASICS

FOUNDING YEAR:

2013

LOCATION:

Italy

Views:

276 VISITORS | 663 VIEWS
LATEST FUNDING ROUND

$62 M

TOTAL EMPLOYEES
51-200

About

Satispay is a mobile payment system completely independent from banks and debit/credit card networks. Now available in all the Italian Market, soon in the rest of Europe. Satispay works with any bank or mobile operator so that everyone can: • exchange money with their friends, • pay in affiliated stores (both physical and online) All types of businesses are able to accept payments made through our application: • without the need to acquire a POS • without service activation costs • without monthly fees. Thanks to it's independency Satispay is able to offer it's service without any costs for all the consumers. Merchants do not have any fees to accept payments below 10 €, and a fixed fee of only 0,20 € for each payment with an amount greater than 10 €.

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MEDICI Analysis

Satispay is a payment network firm. It offers a smartphone application that can be used for peer to peer money transfer, in-store and online purchases and nonprofit donations through a cross-platform mobile app.

Focus+
Momentum+
Traction+
People+
Other+

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Satispay

About

Satispay is a mobile payment system completely independent from banks and debit/credit card networks. Now available in all the Italian Market, soon in the rest of Europe. Satispay works with any bank or mobile operator so that everyone can: • exchange money with their friends, • pay in affiliated stores (both physical and online) All types of businesses are able to accept payments made through our application: • without the need to acquire a POS • without service activation costs • without monthly fees. Thanks to it's independency Satispay is able to offer it's service without any costs for all the consumers. Merchants do not have any fees to accept payments below 10 €, and a fixed fee of only 0,20 € for each payment with an amount greater than 10 €.

Focus

PRODUCTS & SERVICES

A new payment network that allows people to send money from a smartphone application that is both simple and secure. Independent from any specific bank or credit/debit card circuits, Satispay is able to provide the service while lowering the high commissions that are typical of the electronic payment sector. It is thus the first instrument that is usable for everyday payments: from transfers between friends to buying a coffee to online purchases.

REVENUE MODEL

Satispay is free for home users. It charges for business transaction a fixed fee of 20 cents of more than 10 euros.

TOP PROBLEM SOLVED

In order to increase security and reduce costs, the company eliminated credit cards, and invented a new system that links the app to the customer’s bank account using the IBAN code. The once complex and costly payment process has thus been transformed by a unique app.

PRODUCT DEVELOPMENT STAGE

V2.0 or BEYOND

PRODUCT DEVELOPMENT COMMENT

The latest development emerging from the partnership with ICCREA is the integration of the Satispay system with Ingenico payment terminals, the most widespread terminals on the market. The integration is a response to an existing market need: Sinergia, the division of BCC that manages all back office operations, has established the added value that this integration will generate for the 83,000 businesses with BCC accounts. These businesses will be the first to receive the new payment terminal software. With such a high number of merchants, the venture represents the largest scale integration between mobile payment systems and payment terminals in Europe. Currently with 4,500 registered stores in Italy, for Satispay the project signifies a significant boost in growth and development. While the solution was made specifically for BCC’s clients, it can be integrated on all 1.7 million Ingenico terminals in Italy regardless of bank operator. Thanks to efforts by Ingenico, the software update instantly connects the payment terminal to the Satispay system allowing the merchant to easily activate the reception of Satispay payments. In addition to promoting this new opportunity to their business account holders and Ingenico customers, BCC has already committed to promoting Satispay to their clients through their online banking channel. That is, as of June, all of approximately 1,200,000 BCC clients can learn about the service and instantly activate the Satispay app on their smartphone with one simple click.

KEY DIFFERENTIATORS

Satispay’s service is characterized by its complete independence from phone service providers and banks, meaning that it can be used by anyone. In order to increase security and reduce costs, the company eliminated credit cards, and invented a new system that links the app to the customer’s bank account using the IBAN code. The once complex and costly payment process has thus been transformed by a unique app that is: • SIMPLE: making it possible to transfer money to phone contacts and pay in shops with as little effort as sending a message through WhatsApp. • CONVENIENT: thanks to its independence from traditional payment circuits, Satispay is completely free for personal accounts and extremely advantageous for businesses. With no activation costs or monthly fees, the only expense for merchants is a fixed commission of 0.20 € on transactions above 10 € (payments below 10€ are free of charge). Beyond revolutionizing payment technology, the invention has also fostered a cultural change that has transformed everyday habits of individuals, establishing a foundation for new trade models and interactions between customers and vendors.

PRIMARY CUSTOMER TYPE

Enterprise - Retailers

Small and Medium Business - Physical Retail

Small and Medium Business - Online Retail

Small And Medium Business - Other

STRATEGIC CLIENTS AND PARTNERSHIP

ICCREA : Investor and industrial partner

Ingenico : Our merchant application works on their POS too (as well as on smartphones, tablets, cash registers and PCs)

People

FOUNDERS

Alberto Dalmasso

Dario Brignone

Samuele Pinta

NUMBER OF EMPLOYEES

11-50

KEY EMPLOYEES:

CEO, FOUNDER: Alberto Dalmasso

CTO, FOUNDER: Dario Brignone

COO, FOUNDER: Samuele Pinta

Head of Sales and Business Development: Andrea Allara

employee: Dario Brignone(CEO); Samuele Pinta(COO)

BOARD MEMBERS AND ADVISORS:

Carlo Gelfo, Fabio Zoffi, Giuseppe Donagemma, Jon Koplin, Marco Taricco, Mirco Fiumene

INVESTORS:

3LB Seed Capital

Banca Popolare Etica

Banca Sella Holding

Boost Heroes

Iccrea Banca

Shark Bites

U-Start

Momentum

FUNDED

YES

TOTAL FUNDING:

$8.5 M

LISTED

NO

FUNDING SERIES
Series A Sep 2015 --- EUR8.5 M Comment on Series A -