(Alliance News) - Banca Mediolanum is accelerating the potential sale of Flowe, its fintech subsidiary specializing in corporate payment services. According to financial sources, four parties have expressed interest, including Nexi, Bancomat, and Numia, which is backed by Fsi, Iccrea Banca, and Banco BPM.
As reported by MF-Milano Finanza on Wednesday, Dinit Card Services is currently the frontrunner. The Slovenian group is looking to bolster its Italian presence by leveraging the B2B services and technological solutions developed by Flowe.
The starting price for the auction is expected to be linked to the approximately EUR10 million in equity projected for year-end. However, Mediolanum is aiming for a valuation between EUR70 million and EUR90 million, factoring in the client portfolio, 600,000 registered accounts, and nearly 500,000 monthly transactions.
The transaction could be finalized by the end of 2026, pending regulatory approvals. CEO Massimo Doris recently confirmed that preliminary talks were underway, explaining that Flowe is no longer considered part of the group's core business.
Founded in 2020, the fintech closed 2025 with a loss of EUR8.4 million, an improvement over the EUR23.4 million deficit in 2024 and EUR30.8 million in 2023. These losses were partly driven by passive commissions paid to Mastercard and Nexi. Two years ago, the company underwent a EUR15 million capital increase.
To revitalize operations, Mediolanum pivoted away from the retail segment, refocusing Flowe on corporate payment and collection solutions with the goal of reaching break-even by the end of this year.
By Antonio Di Giorgio, Alliance News reporter
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