MatiPay, the fintech company belonging to Angel Company, has secured $7.7 million in a recent funding round. This significant capital injection is set to bolster the company's operations and strategic initiatives as it continues to expand its innovative payment and telemetry solutions across Europe. The funding underscores investor confidence in MatiPay's established market presence and its potential for further growth in the automated retail sector.
MatiPay specializes in transforming automated, manned, or unmanned points of sale into connected and smart environments. The company offers an innovative mobile payment and telemetry system, providing a seamless payment experience for consumers through its app. This app allows users to make purchases, manage a virtual wallet, exchange money, and participate in loyalty programs. For operators, MatiPay's telemetry system delivers real-time sales data, enables remote monitoring and marketing campaigns, and helps prevent malfunctions, optimizing the management of connected stores.
Operating in Italy and 10 other European countries, MatiPay currently serves over 59,000 connected sales points and a community of more than 800,000 consumers. The company has previously been recognized for its innovation, receiving the CES Innovation Award 2019 in the payment platforms category. In 2019, Intesa Sanpaolo also demonstrated its belief in the project by acquiring a minority stake to support MatiPayโs international growth. This latest funding round builds on that momentum, providing resources for the next phase of development.
The newly raised capital will be strategically deployed to accelerate MatiPay's international expansion efforts and further enhance its in-house developed hardware and software solutions. The company plans to invest in research and development to introduce new features and improve its existing platform, ensuring it continues to offer cutting-edge retail experiences. This investment positions MatiPay to strengthen its market leadership and continue shaping the future of automated retail through innovation, cooperation, and commitment.
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