The European Investment Bank (EIB) is providing €220 million in financing to Nexi Group, Europe’s largest PayTech company, to support innovation in the digital payments sector.
The agreement was announced in Milano “by EIB Vice-President Gelsomina Vigliotti and Nexi Group CFO Bernardo Mingrone.”
Nexi will use the EIB funds to develop and manage projects “aimed at modernizing digital payments in Europe, and to finance specific initiatives that leverage the expertise of Nexi Digital, a European technological innovation hub created in collaboration with Reply, an Italian company and European leader in digital transformation.”
The identified projects are fully aligned “with Nexi Group’s environmental, social, and governance (ESG) objectives, which have already been communicated to the market.”
These include promoting digital payment innovation “across Europe, creating jobs for young people and in disadvantaged areas, and enhancing environmental sustainability by optimizing data centres and developing cloud-based activities.”
This is the first EIB loan granted to a publicly listed company “in the digital payments sector, underscoring Nexi’s commitment to advancing the digital and technological transition.”
EIB Vice-President Gelsomina Vigliotti commented:
“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.”
Nexi Group CFO Bernardo Mingrone added:
“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 recognize Nexi’s vital role in developing and supporting digitalization in Europe.”