Extrabanca is an independent bank that aims to favor the social inclusion of migrants. Founded in 2010 by Chairman Andrea Orlandini and led by CEO Paolo Caroli, it currently operates two offices in Milan and Brescia and employs 34 multilingual people. The bank has secured a €15m equity investment from Sator Private Equity Fund (SPEF), which will take a 38.9% stake subject to regulatory approval. An additional €2m will be offered to new shareholders as part of the transaction. The investment is intended to help execute growth plans, including opening 38 new offices in the main Italian cities within 2018. The funding is positioned to support the bank's planned expansion of its branch network to serve migrant communities across Italy.

Total raised

$19M

Funding rounds

1

Latest round

Equity

Latest activity

May 2012