BANCOMAT and FSI to form strategic partnership for growth
Rome – Milan, 26 April 2023 – BANCOMAT S.p.A., the company that manages one of the most diffused and well-known withdrawal and payment circuits in Italy, and FSI, signed a Framework Agreement regarding FSI’s entry into BANCOMAT’s capital in partnership with BANCOMAT shareholder banks.
The agreement envisages the FSI investment in BANCOMAT of up to EUR 100 million, through a reserved capital increase, for a significant minority interest in the company’s capital. The transaction also envisages the adoption of a new governance structure conceived to strengthen BANCOMAT’s competitive position as a more dynamic and customer-oriented company, with an enhanced focus on technological innovation.
The guidelines of the new industrial plan have been agreed between BANCOMAT, FSI and its main shareholder banks and customers. The plan aims, also thanks to FSI’s investment, to enable BANCOMAT to become a significant player in digital payments in Europe, focused on innovation, quality, and customer service.
In particular, BANCOMAT is expected to grow and diversify its revenues through:
i) product offer extension,
ii) a new technological platform allowing greater flexibility and speed in the development of new customer services,
iii) the extension of service offering, also in adjacent and synergic segments,
iv) selective acquisitions of companies with specific vertical digital know-how.
The project represents an Italian initiative which, starting from the widespread diffusion of BANCOMAT among merchants, consumers, and banks, aims to expand the circuit’s scope, ensuring greater innovation capabilities and accelerating the adoption of new digital solutions, as done by other domestic circuits in main European countries.
BANCOMAT’s growth project will leverage the support of its main shareholder banks and of the FSI team, that has gained significant experience in the fintech sector, having successfully invested around EUR 900 million in several companies in the sector in recent years.
The initiative provides the possibility to extend the participation to the governance and value creation plan of the company to other current and prospect BANCOMAT clients.
The transaction remains subject to the approval of the relevant authorities and other conditions precedent as customary for this type of transactions.
BANCOMAT was assisted by Mediobanca-Banca di Credito Finanziario S.p.A., Studio Legale Gattai, Minoli, Partners, PwC Strategy&, Prof. Avv. Salvatore Maccarone.
FSI was assisted by WePartner, Studio Legale Pedersoli, KPMG and CMC Labs.
BANCOMAT S.p.A. (www.bancomat.it) has been operating the most diffused and well-known withdrawal and payment circuits in Italy for 40 years, identified by the BANCOMAT®, PagoBANCOMAT® and BANCOMAT Pay® brands. It is one of the main and most important players in the debit card payment market in Italy, with more than 2.8 billion payment and withdrawal transactions worth about EUR 225 billion on an annual basis and about 32 million active cards. It is owned by 113 Italian banks, which are part of the more than 400 payment service providers that use its services..
FSI (www.fondofsi.it) is a leading Italian institutional investor with over EUR 2 billion in growth capital, raised from major Italian, international and institutional investors. FSI’s investment policy focuses on investments in partnership with Italian institutions, entrepreneurs, and families. With its investments, FSI pursues value creation objectives through organic growth, acquisitions, and sector consolidation.
|Press Office FSI
Tel. +39 02 89404231