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Jack Dorsey’s Square Invests $18 Million in Italy’s App Satispay

  • The deal is part of larger round of 93 million euros
  • China’s Tencent and Telecom Italia are among other investors
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Source:  Satispay 

Square Inc., the payments company run by Jack Dorsey, is among new big investors in Italy’s mobile digital payment platform Satispay SpA, in a move aimed to expand its operations across European markets, according to a statement by Satispay.

The San Francisco-based company invested about 15 million euros ($18 million) for a minority stake in Satispay, people familiar with the matter said, asking not to be mentioned because the value isn’t public. The deal is part of a larger round of investment of 93 million euros that will also be joined by China’s Tencent Holding Ltd, LGT Lightstone, Telecom Italia SpA’s TIM Ventures and other investors, the statement said.