Pitagora
Pitagora S.p.A. is an Italian consumer credit intermediary (founded 1995, Turin) specializing in Cessione del Quinto salary- and pension-backed loans, serving pensioners, public employees, and private employees through 86 branches, 300 agents, and a BusinessToPartner network of 54+ Italian banks.
- Company typePrivate
- Founded1995
- HeadquartersTurin, Italy
- Headcount—
- GTM typeB2B and B2C
- OfferingServices
What Pitagora does
Pitagora S.p.A. is an Italian consumer credit intermediary founded in 1995 and headquartered in Turin, specializing in Cessione del Quinto (CQS) — non-purpose personal loans repaid through automatic monthly deductions of up to 20% of salary or pension. The company operates a dual distribution model: a direct channel comprising 86 branches and 300 agents across Italy serving pensioners, public employees, and private sector employees, and a BusinessToPartner (B2P) wholesale channel that distributes CQS through 54+ partner banks (including Gruppo Iccrea, BCP, and Cassa di Risparmio di Bolzano) via a dedicated Agorà web portal, with partner banks receiving immediate remuneration and assuming no credit risk.
The product portfolio centers on CQS variants for the three primary consumer segments, plus complementary offerings including Prestito con Delega (delegation of payment enabling combined deductions up to 40% of net salary), TFS (advance on terminal leave fund), GiustoXte small-ticket loans, TidoCredito, and partnership-distributed personal loans through Younited Credit and Agos. The technology stack comprises the MyPitagora mobile app for loan servicing, Agorà for bank partner workflow, and qualified electronic signature infrastructure (FEQ/FEA) provided by AGID-accredited trust service provider In.Te.S.A. S.p.A. The 2015 €525M Annette securitization with senior tranches rated Aa2 by Moody's and A by DBRS indicates institutional-grade underwriting.
Pitagora generates revenue from interest rate spreads and processing fees on CQS loans (example pricing of 8.59% TAN / 8.99% TAEG fixed, with monthly installments around €210-€230), commissions from mandatory life and unemployment insurance coverage bundled with each loan, and service fees from bank partners using the B2P platform. Since 2015, Pitagora has operated as a subsidiary of Banca di Asti S.p.A. within Gruppo Cassa di Risparmio di Asti, with the parent providing capital backing and distribution synergies.
Pitagora firmographics
Firmographics- Name
- Pitagora
- Legal name
- Pitagora S.p.A.
- Website
- https://pitagoraspa.it
- Company type
- Private
- Founded year
- 1995
- Operating status
- Operating
- Short description
- Pitagora S.p.A. is an Italian consumer credit intermediary (founded 1995, Turin) specializing in Cessione del Quinto salary- and pension-backed loans, serving pensioners, public employees, and private employees through 86 branches, 300 agents, and a BusinessToPartner network of 54+ Italian banks.
- Ownership category
- akta.pro rank
Pitagora industry classification
Industry- Product category
- Consumer Lending
- NAICS
- Nondepository Credit Intermediation (5222), Other Nondepository Credit Intermediation (52229)
- SIC
- Personal Credit Institutions (6141)
- akta.pro primary industry
- Lending & Credit Disbursements (FSAMAKAH)
- akta.pro secondary industry
- B2B Channel Partners & Referral Agencies (Cross-Industry Referral) (FSAEAMAN)
Keywords
Where Pitagora is headquartered
LocationHeadquarters
- HQ city
- Turin
- HQ country
- Italy
- HQ region
- Europe
Offices45 records
Markets served
Pitagora business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others
Revenue model
- Cessione del Quinto Loans: Core business: providing loans secured by salary/pension deductions (max 20% of monthly income). Revenue generated from interest rates, processing fees, and insurance commissions on loans extended to employees and pensioners. Maximum loan amount of €75,000 with repayment periods up to 120 months.
- Business-to-Partner Services: Service fees from banks and financial institutions using Pitagora's CQS distribution platform and processing infrastructure. Partners receive immediate remuneration upon loan disbursement.
- Insurance Products: Mandatory insurance products (life insurance, unemployment insurance) integrated with CQS loans, working with major national and international insurance companies.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Monthly | Cessione del Quinto for Pensioners - up to €75,000 |
| Transaction based/ take rate | Monthly | Cessione del Quinto for Employees - loan amounts vary by salary |
Go-to-market motion3 records
Distribution channels6 records
Marketing channels7 records
Pitagora product offering
Product offeringCore offering
Pitagora S.p.A. is an Italian financial intermediary specializing in consumer credit, with a core focus on "Cessione del Quinto" — unsecured personal loans repaid through direct monthly deductions (up to 20%) from the borrower's salary or pension statement. The company extends these loans to public sector employees, private sector employees with indefinite-term contracts, and pensioners, with maximum amounts up to €75,000 and terms up to 120 months. It distributes its loan products both directly via an 86-branch Italian branch network with 300 field agents, and indirectly through a BusinessToPartner (B2P) platform that enables partner banks, insurance companies, and corporate employers to offer CQS products through their own channels.
Product overview
Pitagora S.p.A. is a consumer credit company specializing in 'cessione del quinto' (loan against one-fifth of salary/pension) products. The company operates a multi-product portfolio including the core Cessione del Quinto (for public employees, private employees, and pensioners), Prestito con Delega (delegation of payment), TFS (terminal leave fund financing), GiustoXte (small loans for private employees), TidoCredito, and Personal Loans through partnerships with Younited Credit and Agos. The company serves consumers through 86 branches and 300 agents across Italy, while also operating a BusinessToPartner model enabling banks, insurance companies, and other businesses to distribute cessione del quinto products.
Differentiator
Problem solved
Functional benefit
Products and services
- Cessione del Quinto (Public Employees)
- Cessione del Quinto (Private Sector Employees)
- Cessione del Quinto (Pensioners)
- Prestito con Delega (Delegation of Payment)
- TFS (Trattamento di Fine Servizio)
- GiustoXte
- TidoCredito
- Personal Loans (Younited Credit partnership)
- Personal Loans (Agos partnership)
- BusinessToPartner (B2P) Distribution Platform
Quantifiable outcome
- NPS 64.23% customer satisfaction in lending sector
- +2 more outcomes
Companies that use Pitagora
Customer profileNamed customers3 records
Segments6 records
Ideal customer profiles6 records
Pitagora technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
Feature4 records
Pitagora partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core, supporting and regional.
- BCP (Banca di Credito Popolare)coreStrategic long-term partnership for CQS (Cessione del Quinto dello stipendio) distribution. BCP distributes Pitagora's core loan products through its network.
- Gruppo IccreacorePartnership with Gruppo Iccrea (cooperative banking group) for CQS distribution. Partnership established 4 years ago and strengthened over time.
- Facile.itcoreTV advertising partnership for Cessione del Quinto products. Joint marketing campaign on television promoting personal loans and CQS.
- In.Te.S.A. S.p.A.supportingQualified Trust Service Provider for electronic signature services (FEQ). In.Te.S.A. is part of Kyndryl Group based in Turin, AGID accredited.
- Cassa di Risparmio di BolzanoregionalCommercial agreement for CQS products and services distribution in South Tyrol region with bilingual support.
- Various Italian Banks (54+)coreNetwork of bank partners across Italy distributing CQS products. As of 2016, partnerships with 54 banks confirmed.
- Major National and International Insurance CompaniescoreInsurance companies providing mandatory life and unemployment insurance coverage for CQS loans with multi-year agreements and favorable loss ratios.
Scale indicators8 records
Recent moves12 records
Expansion highlights6 records
Pitagora competitors and assessment
Company assessmentDirect peers
- Prestitalia: Italian consumer credit specialist focused on Cessione del Quinto products, directly competing with Pitagora across the same pensioner and employee segments with similar branch-based distribution.
- Agos Ducato: Major Italian consumer credit provider offering personal loans, CQS, and auto loans through bank partnerships. Pitagora already partners with Agos for personal loans, confirming overlapping product sets and target customers.
Broad incumbents
- Findomestic Banca: Large Italian consumer credit bank owned by BNP Paribas, offering personal loans and CQS with extensive retail-partner distribution. Comparable business model and customer base to Pitagora but at significantly greater scale.
- Compass (Mediobanca): Consumer credit division of Mediobanca offering personal loans and CQS through bank partner networks. Comparable product set to Pitagora with broader scope including auto and specialty finance.
- Cofidis Italia: European consumer credit specialist offering personal loans in Italy through partner retail networks and direct channels. Overlapping customer segment with Pitagora, particularly in personal loan products.
- BNL Finance (BNLI): BNL group's consumer finance arm offering personal loans and CQS through the parent bank's branch network. Comparable target customers and product overlap with Pitagora.
- Santander Consumer Bank: European consumer credit bank offering auto loans, personal loans, and CQS in Italy. Competes with Pitagora for the same employee and pensioner segments with similar product structures.
Emerging players
- Younited Credit: European digital consumer lender active in Italy offering personal loans. Already a Pitagora partnership product, illustrating shared customer targeting in Italian personal lending.
Others
- Facile.it: Italian price-comparison aggregator for financial products including loans and CQS. Already a Pitagora TV marketing partner, but also a channel through which competing lenders acquire the same customers.
- PrestitiOnline.it: Italian loan price-comparison aggregator where lenders including CQS specialists compete for leads. Adjacent rather than directly competitive, but increasingly central to customer acquisition in the CQS category.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Pitagora social profiles
Digital presencePitagora compliance and trust
Trust signalCompliance3 records
Pitagora financial estimates
Financial estimateRevenue estimate
Valuation estimate
Pitagora leadership team
Management profileNumber of profiles
Profiles3 records
Pitagora funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Pitagora M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Pitagora
What does Pitagora do?
Pitagora S.p.A. is an Italian financial intermediary specializing in consumer credit, with a core focus on "Cessione del Quinto" — unsecured personal loans repaid through direct monthly deductions (up to 20%) from the borrower's salary or pension statement. The company extends these loans to public sector employees, private sector employees with indefinite-term contracts, and pensioners, with maximum amounts up to €75,000 and terms up to 120 months. It distributes its loan products both directly via an 86-branch Italian branch network with 300 field agents, and indirectly through a BusinessToPartner (B2P) platform that enables partner banks, insurance companies, and corporate employers to offer CQS products through their own channels.
Is Pitagora a public or private company?
Pitagora is a private company. It is classified as corporate owned and is currently operating.
When was Pitagora founded?
Pitagora was founded in 1995.
Where is Pitagora based?
Pitagora is headquartered in Turin, Italy, in the Europe region.
How does Pitagora make money?
Three revenue lines are on record. Cessione del Quinto Loans are the primary driver. The others are business-to-Partner Services and insurance Products.
Who are Pitagora's main competitors?
Direct peers on record are Prestitalia and Agos Ducato. Broad incumbents are Findomestic Banca, Compass (Mediobanca), Cofidis Italia, BNL Finance (BNLI) and Santander Consumer Bank. Younited Credit is listed as an emerging player. Others are Facile.it and PrestitiOnline.it.
Does Pitagora have an API?
No public API is recorded for Pitagora.
What industry is Pitagora in?
Pitagora's product category is Consumer Lending. Its primary akta.pro industry code is FSAMAKAH, Lending & Credit Disbursements, with a secondary code of FSAEAMAN, B2B Channel Partners & Referral Agencies (Cross-Industry Referral). Its NAICS code is 5222 and its SIC code is 6141.