• Wed. Oct 27th, 2021

Sardex Pay, a complementary currency for the national market


May 5, 2021

SardexPay in the first quarter of 2021 grows by 80% and the equity crowdfunding campaign in two weeks exceeds the 600,000 euro target and sets itself the new goal of 900,000 euro. The aim is to further accelerate the development of innovative solutions and services for companies and the even faster growth of the Community, the nerve center of the network capable of connecting business opportunities for members. CEO Marco De Guzzis explains: “Both 2020 and this beginning of the new year have increasingly highlighted the opportunities that Sardex guarantees to companies. Last year our members exchanged goods and services for over 120 million in value without touching a single euro. In addition, they obtained additional zero-interest credit lines and involved employees and final consumers ”. The fintech startup, born in 2009 in Sardinia, is now present in 15 regions with over 10 thousand open accounts. It also changes in name: from sardex.net it becomes Sardex Pay announcing new services and technological improvements that will gradually be made available to subscribers in the coming months. Among these: an increasingly effective internal search engine, app improvement, e-commerce integration and the possibility of making mixed Euro / Sardex payments directly on the SardexPay platform. Sardex is not a virtual currency (such as bitcoin or others). cryptocurrencies) and is not an alternative to the euro. With the exchange value of 1 to 1 with the euro, the Sardex is a complementary currency that was created to bridge the gap in access to credit for small businesses and professionals. In fact, it allows companies and associated professionals to exchange goods and services on the basis of accumulated credits. The company (or professional) has the right to receive credits in the form of Sardex proportional to the value of the goods and services it can offer, to be spent at the participating companies and professionals. Sardex Pay, on the other hand, is the community that allows you to exchange goods and services by paying for them in Sardex. It recorded transactions worth € 120 million last year alone and the average subscriber is up 73%. Gabriele Littera, co-founder of SardexPay, talks about the importance of the driver of access to credit: “We decided to innovate in finance, an area in which it always seems difficult to change things. However, we did not want changes only in form, for example relating to payment methods, but in substance. We wanted to find a way to give companies what they needed most: credit ”.