Banca Sella completed the acquisition of a 50% stake in Hype from illimity Bank for €85m.

Banca Sella, a banking company, completed the acquisition of a 50% stake in Hype, an Italian fintech company, from illimity Bank, a digital bank, for €85m. The transaction, which is subject to the approval of the Bank of Italy and the relevant authorities, is part of the Banca Sella's growth and development plans and aims to further strengthen the positioning and strategies of both Banca Sella and Hype through the enrichment and the integration of their respective offerings. The transaction is designed to strengthen the competitiveness of both companies in complementary market segments characterized by strong innovation.