Copper Street Capital, a private equity investor focused on the European financial services sector, has divested its minority stake in Italian mobile payments service, Satispay.
The mobile payment service, launched in 2015, simplifies every-day payments for consumers and cuts transaction fees for retailers, helping them transition to mobile payments.
Copper Street invested in Satispay in 2018 and since then, the company has achieved an exceptional growth, reaching 3,000,000 consumers and 200,000 merchants, representing an increase of 800% and 450% respectively since the investment. It is currently Italy’s largest mobile payments provider and is expanding across Europe, with offices in Berlin and Luxembourg.
The Satispay deal marks Copper Street’s first significant exit from its private equity portfolio, which also includes Lantern, a leading player in the UK speciality finance debt purchase market, and One Four Nine Group, an independent UK financial advice and fund management group aiming to disrupt the advice industry.
