Italian payment technology firm Nexi Group has secured €220m in financing from The European Investment Bank (EIB) to boost its digital payment products and services.
Nexi Group will leverage the funds to develop and manage projects aimed at upgrading digital payments infrastructure in Europe.
With the EIB funding, the Italian payment technology firm will finance specific programmes that use the expertise of Nexi Digital, a European technological innovation hub established in partnership with Reply, an Italian company engaged in providing digital transformation.
Nexi Group said the select initiatives are in line with its environmental, social, and governance (ESG) objectives, which have already been informed to the market.
The projects include endorsing digital payment innovation across Europe, creating jobs for the youth, and enhancing environmental sustainability by streamlining data centres and developing cloud-based activities.
Nexi Group CFO Bernardo Mingrone said: “We are proud that the European Investment Bank has recognised our ongoing commitment to the development of innovative products and services promoting digital payment reliability and security, two key requirements for rolling out these services in the European countries where we operate.
“This agreement is further confirmation that even major players like the EIB recognise Nexi’s vital role in developing and supporting digitalisation in Europe.”
The funding represents the first EIB loan granted to a publicly listed company in the digital payments sector, emphasising Nexi’s commitment to advancing the digital and technological transition.
EIB vice-president Gelsomina Vigliotti said: “This operation represents a major step forward in the development of Europe-wide digital payment solutions, helping to reduce the use of cash and prevent fraud and tax evasion. “This operation highlights the EIB’s commitment to promoting digitalisation and innovation in businesses and public sector organisations, which are key elements of the National Recovery and Resilience Plan.”
