- The operation allows the Bank to access a new payment system that permits cash purchases using the vending machine network
- The new capital will allow MatiPay to accelerate its internationalization process
- Investment is made through Neva Finventures, the Corporate Venture Capital headed by Intesa Sanpaolo Innovation Center
Bari, 9 October 2019 – The Intesa Sanpaolo Group enters with an investment of 7 million euros in the capital of MatiPay, a Fintech startup founded by Matteo Pertosa and born in the IOT division of the Angel Group. The announcement came today during the event “Finance with innovation – What can be done to make the country grow. The concrete case of MatiPay ”, hosted at the Sitael headquarters in Mola di Bari (BA).
MatiPay has developed a new payment system that allows you to purchase online services and products with cash, using the physical network of the banknote readers and coin changers of the vending machines.
Thanks to this operation, in line with the Group’s continuous digital transformation strategy, the Bank expects important synergies in the mobile channel and in the integration of digital payment services that can be used via smartphones. In addition, Intesa Sanpaolo will be able to expand its range of services for asset management, through integration with existing products or the development of new ones.
The operation was carried out through Neva Finventures, the Corporate Venture Capital headed by Intesa Sanpaolo Innovation Center – a company of the banking group chaired by Maurizio Montagnese and directed by Guido de Vecchi – and which invests in fintech companies and startups that intend to enter in new markets and key sectors such as the circular economy and data-driven economy.
The new capital raised by MatiPay will allow the startup to accelerate its growth in the reference international markets, namely Europe, Japan and the USA, where the presence of vending machines is very widespread: a network of approximately 16 million devices is estimated.
MatiPay is a Digital Transformation solution for the vending industry and allows you to replace the current “physical” key with a digital wallet installed on users’ smartphones and rechargeable both with cash, to be inserted in vending machines, and by credit card. MatiPay will also allow to reach non-banked customers, such as younger people who do not yet have a credit card.
The MatiPay technology, applied to vending machines and combined with the Artificial Intelligence platform and a dedicated management software, is able to enhance the turnover of operators operating in the Vending Machine industry and to offer end customers new services such as payment of digital goods in cash.
“We believe that innovation is a key element to ensure the competitiveness of the economic system and Corporate Venture Capital, in the ecosystem of innovators, is a model of global growth, which enhances technology and entrepreneurial initiative, especially among the young. MatiPay is an example of this, it is a partner with great potential in the fintech field that will be able to help accelerate our Group's leadership in digital payment systems. This project opens a new strategic perspective because it enhances the DNA of innovators - in key sectors such as aerospace, railway and internet of things - realizing the dream of a young entrepreneur to develop new technologies in his territory to bring to the world and invest in a land rich in values where tradition and innovation can represent an example to be replicated for the growth of the country.”Carlo MessinaCEO and Managing Director of Intesa Sanpaolo
“The financial resources put in place will help MatiPay's international growth path. We chose Intesa Sanpaolo both for the industrial partnership and for the harmony we have found in the managerial values, which make Intesa a bank that supports the entrepreneurial ecosystem in the growth of the real economy.”Matteo PertosaCEO of MatiPay
Neva Finventures is Intesa Sanpaolo’s Corporate Venture Capital vehicle dedicated to the Group’s strategic investments with an initial capital endowment of up to Euro 100 million. It invests, generally with minority stakes, in fintech companies that can become complementary to the Group’s activities, with preferential reference markets such as Europe, Israel and the USA. In Italy, it also invests in non-fintech initiatives with the ambition of positioning Intesa Sanpaolo as a fundamental partner for startups that intend to penetrate new markets and key industries, focusing on the circular economy and the data-driven economy. Neva Finventures also invests in venture capital funds.
MatiPay is a fintech startup belonging to the Angel Group, an Italian holding world leader in the Railway, Aerospace and Aeronautics markets, which has developed an innovative mobile payment and telemetry system for vending. MatiPay transforms vending machines into intelligent points of sale, allowing the purchase of products quickly and easily via the app and the efficient optimization of operator management activities. Available for iOS and Android, MatiPay guarantees a complete user experience thanks to the combination of an immediate connection between the vending machines and the mobile App with the virtual wallet rechargeable via cash, credit card or PayPal. The system can be easily integrated into new vending machines or those already in use. Furthermore, thanks to the use of an intelligent platform and a dedicated management suite, it is able to enhance the telemetry features in real time to support managers operating in the Vending Machine industry. In 2019 MatiPay was awarded during the Consumer Electronic Show in Las Vegas – the most important event in the world dedicated to technological innovation – with the CES Innovation Award 2019, in the payment platforms category.