Satispay acquires the start up AdvisorEat
First operation of this kind for the mobile payment company
Satispay, the Italian company known for its mobile payment system, has announced its first acquisition. This is AdvisorEat, the Italian startup founded in 2017 by Stefano Travaglia who was the first to develop a service designed for business consultants and professionals who, through the dedicated app, select and recommend the best restaurants, from starred cuisine to street food. gourmet.
AdvisorEat has agreements with about 800 restaurants in over 40 Italian provinces including starred restaurants and well-known gourmet brands, and important catering groups, and registered over 16,000 members who work for important Italian and multinational companies.
Alberto Dalmasso, CEO of Satispay declared: “The catering sector, and food in general, represent a considerable part of our 180,000 merchants and the first product category and we have always looked with interest at services related to this area. In AdvisorEat, and especially in Stefano Travaglia, the founder and CEO, we recognized strong skills, both commercial and in defining and developing services dedicated to companies, as well as a great enthusiasm and our own desire to achieve something great. His experience and competence, combined with our important numbers in the Horeca sector, have made us imagine the concrete possibility of creating something of value in the world of corporate welfare, in the name of simplification, user experience and sustainability and convenience for merchants. We will bring to the market solutions capable of responding more and more to the evolution of company policies regarding the care of their collaborators also in light of the new working methods and the clear trend that, even following the pandemic crisis, sees about half of the companies increase its commitment in this direction. We have a lot of ideas and thanks to this operation we will be able to start with the first services as early as the beginning of next year".
"This operation represents a great turning point for our team", Stefano Travaglia specified. "As an entrepreneur, I immediately saw the opportunity to become part of an even bigger project where, by pooling strengths and skills , ours will be able to find space and acceleration to grow as perhaps never before we had thought, at the same time representing the basis for the development in Satispay of a completely new business line. We are delighted with this mutual opportunity that we can give each other and are already working to pour the benefits onto the market as soon as possible ".
Corporate welfare policies have recorded a strong growth trend in recent years that the pandemic crisis has further accelerated, as shown by the report on the performance of productivity bonuses released in January 2021 by the Ministry of Labor and Social Policies, according to which out of approximately 7,840 active corporate and territorial agreements, 4,515 (equal to 57.7%) envisage corporate welfare measures. Bird & Bird acted as legal advisor to Satispay in the transaction, while AdvisorEat was assisted by Orrick. The acquisition was completed with the Ricci and Radaelli notaries' firm.
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