Osborne Clarke acted for Banca Sella Holding SpA in the acquisition of Smartika SpA, the first company to operate in Italy in the peer-to-peer lending sector - online loans between private individuals already widespread in Great Britain and the United States and in constant growth in Italy. The transaction forms part of the fintech development strategy of the banking group based in Piedmont that with this acquisition, which integrates and helps to build a fintech ecosystem, intends to promote the development of P2P Lending, in which it is already present also by way of a minority share in Prestiamoci Spa.
Banca Sella Holding acquired by way of a capital increase, a controlling interest of approximately 85% in Smartika SpA, a company founded in 2007 by Maurizio Pietro Sella, the namesake and relative of the president of the banking group, who has always worked in the financial sector outside the Group itself. The total value of the capital increase was Euro 3.5 million, partly underwritten by the company's historical shareholders.
