Square, an American fintech created by Twitter co-founder, Jack Dorsey, invested 18 million euros in the start-up business in Italy Satispay. The investment will be made by subscribing to a total capital increase of 68 million euros. The company announced that strong investor interest, including Chinese ones, had led shareholders to sell a minority stake to the new shareholders, for a total value of 25 million euros.
Suqare is listed on Wall Street and capitalizes 86 billion dollslari, with a value that has tripled since the beginning of the year. The digital payments sector saw a boom during the pandemic with the multiplication of online purchases made by citizens subjected to locks. It was founded in 2013 by three young people from Cuneo, Satispay is present today with its requests for payments and money transfers, also in Germany. Turnover is around 17 billion euros, with over 100 employees. Jack Dorsey, At the age of 44 and of his mother’s Italian roots, he founded Twitter in 2006.