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    700   KYG875721634

TENCENT HOLDINGS LIMITED

(700)
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Delayed Hong Kong Stock Exchange  -  03:08 2022-11-28 am EST
270.00 HKD   -1.10%
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Italy's Satispay valued at over 1 billion euro after raising 320 million euros

09/28/2022 | 07:43am EST

ROME (Reuters) - Satispay, Italy's mobile app payments startup, said on Wednesday it is now valued at more than 1 billion euros ($955 million) after raising 320 million euros in a new round of investments.

U.S. investment firm Addition has become the lead investor in the company, which can now boast "unicorn" status. Venture capital firm Greyhound Capital, a shareholder since 2018, also increased its stake, a company statement said.

Hedge fund Coatue Management, private equity firm Lightrock, Block Inc., China online giant Tencent and Italy's Mediolanum Gestione Fondi Sgr, all Satispay investors since 2021, are among the other existing shareholders who participated in the new funding round.

Founded in 2013, Satispay provides a mobile app that allows users to pay in stores, exchange money with friends and pay fines.

The new investments will allow Satispay to become "the next leading payment network in Europe," said company co-founder and CEO, Alberto Dalmasso.

Satispay has the capital, the experience and the necessary skills, and in the last two years it doubled its customer base, expanding in three more European countries, the CEO added.

"It's really a new beginning and we feel more determined than ever," Dalmasso concluded.

The completion of the closing of the Series D round is subject to regulatory approval.

($1 = 1.0473 euros)

(Reporting by Alvise Armellini; Editing by Keith Weir)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BLOCK, INC. -2.08% 62.1599 Delayed Quote.-60.76%
TENCENT HOLDINGS LIMITED -1.10% 270 Delayed Quote.-40.24%
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Analyst Recommendations on TENCENT HOLDINGS LIMITED
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Financials
Sales 2022 555 B 77 058 M 77 058 M
Net income 2022 109 B 15 151 M 15 151 M
Net cash 2022 77 799 M 10 794 M 10 794 M
P/E ratio 2022 21,9x
Yield 2022 0,46%
Capitalization 2 345 B 325 B 325 B
EV / Sales 2022 4,08x
EV / Sales 2023 3,50x
Nbr of Employees 108 836
Free-Float 63,2%
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Mean consensus BUY
Number of Analysts 54
Last Close Price 248,94 CNY
Average target price 357,87 CNY
Spread / Average Target 43,8%
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Managers and Directors
Hua Teng Ma Executive Chairman & Chief Executive Officer
Chi Ping Lau Chief Strategy & Investment Officer
Shek Hon Lo Financial Controller
Chen Ye Xu Chief Information Officer
Shan Lu SEVP, President-Technology & Engineering Group
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