A month after reaching unicorn status, Satispay, the everyday mobile payment solution, unveils its plan to open a new headquarters in Milan to support its expansion in Italy and Europe.
The announcement comes at a time of strong growth for Satispay. A few weeks ago, after a €320 million Series D investment round, the company announced exceeding the valuation of over €1 billion. Over the past couple of years, the company has more than doubled its user base and now over 3 million consumers and 200,000 merchants use Satispay to easily and securely make payments in store and online, independently from debit and credit card networks. The opening of a new headquarters is part of Satispay’s plan to further accelerate its growth in Italy and the rest of Europe, with the company planning to double its headcount from 300 to 600 in the next 18 months.
The new Satispay headquarters will be located in the young and vibrant neighborhood of Isola. The 8,500 sqm, 8-story building, owned by world-leading private investment house Ardian, is being re-designed by award-winning architect Stefano Bellingardi Clusoni and is currently under construction, with delivery expected by the end of 2023. The building will be one of the most advanced in the country when it comes to sustainability and energy efficiency. It will meet all the highest sustainability standards (LEED Platinum, Well Silver, WiredScore and BREEAM Very Good) and it will be 34% more efficient compared to Grade A buildings.
Alberto Dalmasso, CEO and co-founder of Satispay, commented: “After reaching the milestone of €1 billion valuation, the new headquarters is another testament to Satispay’s strong growth and truly speaks to the company’s ambition to become the number one payment network in Europe. We believe Milan is a strategic place to continue to lead our Italian and European operations. When we move into the new building, we will have the opportunity to share our space and dedicate the first two floors to promising startups and innovative companies. Since we designed the building to support our fast paced growth, we believe that other startups navigating the same challenges will also benefit from a space tailored to their needs.”
Italian tech has become more attractive than ever.
Satispay's investment in a new Milan headquarters not only demonstrates the company’s expansion, but also confirms the momentum in the Italian tech ecosystem. Indeed, since the beginning of the year, Italian startups have received unprecedented attention from VC investors, securing a record $1.7 billion in funding1. Despite the market downturn and investments slowing down in the rest of Europe, VC funding in Italy is projected to grow by 64% compared to 20211, with Milan playing a key role in the country’s startup space.
The number of fintech companies has grown by an average of 30% each year over the past 8 years in Milan alone, with the city now counting over 3,300 startup companies and 70 startup incubators and accelerators2. Several tech companies and startups are choosing to base their headquarters or regional offices in Milan thanks to the city’s strategic position and its great access to talent and capital.