Principia and Vertis invest $6m in Jusp

Principia invested through the Principia II fund, which closed on €61.3m in 2009, exceeding its €20-40m target. Vertis committed capital from the Vertis Venture fund, which holds €25m.

The fresh funding will allow the firm to launch in Italy initially, before moving to other European markets.

Company
Founded in 2011 and based in Milan, Jusp provides payment systems for smart devices. The firm provides a card reader that can be connected to any smart device via a mini jack audio lead. Users download a free application, which receives data and manages each transaction.

The company employs 12 members of staff.

People
Roberto Mazei, president of Principia, will be president of Jusp following the deal. Marco Agostini is a partner at Vertis.

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• Topics
• Southern Europe
• Industrials
• Early-stage
• Italy
• Vertis
• Principia