SACE

What SACE does

SACE S.p.A. is Italy's Export Credit Agency, wholly owned by the Ministry of Economy and Finance and founded in 1977. The company provides insurance, financial guarantees, factoring, surety bonds, and investment protection instruments that enable Italian enterprises to manage commercial and political risk when exporting, investing abroad, or financing strategic domestic projects. It operates through a group structure comprising SACE BT (surety bonds and credit insurance), SACE FCT (factoring), SACE SRV, and SIMEST (internationalization financing), supported by a network of 23 offices (11 in Italy and 12 internationally) and partnerships with Italian and international banks including Intesa Sanpaolo, UniCredit, BNL-BNP Paribas, and the European Investment Bank.

SACE's offering is organized into three product pillars: (1) Guarantees and Liquidity for Financial Leverage, encompassing credit insurance products (Export UP, Incassi Sicuri), bid and performance bonds, factoring, and guarantees such as the state-backed Garanzie Archimede for strategic infrastructure; (2) Risk Management and Asset Protection, including political risk cover for foreign investments, climate and catastrophe insurance, and sanctions-compliance digital tools (Sanctions GPS, Mappa delle Sanzioni, Check Banche Estere in un Click); and (3) Business Growth Opportunities, anchored by SACE Connects (buyer-supplier matching), SACE Education (export training), and Export Legal Advisor. Digital infrastructure is delivered via the MySACE self-service platform, while distribution combines direct field advisory for large enterprises with self-serve digital onboarding for SMEs.

The revenue model is built on insurance premiums, guarantee and bond fees, factoring spreads, and professional service charges across a portfolio of insured operations and guaranteed investments of approximately €290 billion as of December 31, 2025. SACE mobilized €54 billion in 2025, supporting an estimated 700,000 Italian jobs and reaching customers in approximately 200 markets globally. The SACE50 Strategic Plan for 2026-2028 targets €150 billion of new commitments, signalling aggressive growth, while the recent TXF "Export Credit Agency of the Year 2026" award validates competitive positioning against global peers.

Name

SACE

Legal name

SACE S.p.A.

Website

https://sace.it

Company type

Private

Founded year

1977

Operating status

Operating

Headcount range

501–1,000 employees

Short description

SACE is Italy's state-backed Export Credit Agency, wholly owned by the Ministry of Economy and Finance, providing export credit insurance, financial guarantees, factoring, and surety bonds to Italian SMEs and large enterprises operating domestically and across approximately 200 international markets.

Ownership category

akta.pro rank

Product category

Export Credit Insurance

NAICS

Credit Intermediation and Related Activities (522), Other Nondepository Credit Intermediation (52229)

SIC

Federal & Federally-Sponsored Credit Agencies (6111), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Export Credit Agencies (ECAs) & Official Export Finance (FSABAKAC)

akta.pro secondary industry

Debt Relief, Restructuring & Sovereign Advisory Programs (BPADACAL)

Keywords

• Export credit insurance
• Financial guarantees
• Factoring services
• Surety bonds
• Investment protection

Headquarters

HQ city

Rome

HQ country

Italy

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Export Credit Insurance: SACE provides insurance coverage for Italian exporters against commercial and political risks related to foreign receivables, enabling companies to offer payment terms to international customers with protection against default.
2. Financial Guarantees: SACE issues guarantees supporting Italian companies' access to financing for investments, working capital, and international expansion. Revenue generated through guarantee fees and premiums.
3. Factoring Services (SACE FCT): Through SACE Fct subsidiary, the company provides factoring services enabling companies to monetize receivables and improve cash flow, generating revenue through factoring fees and interest.
4. Credit Management Services: Services including credit assessment, recovery of unpaid debts, and debt collection operations for Italian companies, with both out-of-court and judicial recovery methods.
5. Bond and Surety Instruments: SACE BT provides surety bonds and guarantees for public tenders, construction contracts, and environmental obligations, generating revenue through bond premiums.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

SACE is Italy's Export Credit Agency providing insurance and financial solutions to Italian companies for international growth. The offering spans credit insurance (Export UP), public and financial guarantees (Garanzie Archimede, Garanzia Internazionalizzazione), factoring (SACE FCT), surety bonds, subsidized financing, political and climate risk protection, and buyer-credit facilities. Complementary services include SACE Connects business matching, SACE Education training, and Export Legal Advisor.

Product overview

SACE is Italy's Export Credit Agency, wholly owned by the Ministry of Economy and Finance, providing a comprehensive portfolio of insurance and financial solutions to support Italian companies' growth in Italy and internationally. The offering operates as a multi-product platform organized into three main categories: (1) Guarantees and Liquidity for Financial Leverage, including credit insurance (Export UP, Incassi Sicuri), bid and performance bonds (Cauzioni Appalti, Cauzioni Doganali, Cauzioni Ambiente), factoring services (SACE FCT), and financing guarantees (Garanzia Internazionalizzazione, Garanzie Archimede, Garanzia SupportItalia); (2) Risk Management and Asset Protection, covering political and credit risk insurance (Investimenti Protetti all'estero), construction and property coverage (Coperture Cantieri, Coperture Property), climate risk protection (Protezione Rischio Clima), and sanctions compliance tools (Sanctions GPS, Mappa delle Sanzioni); and (3) Business Growth Opportunities, featuring SACE Connects for buyer matching, SACE Education for export training, and Export Legal Advisor for international contract compliance. Additional services include subsidized financing, credit recovery, buyer credit, and the Push Strategy for untied financing facilitating Italian procurement. The portfolio is complemented by digital tools like Check Banche Estere in un Click for foreign bank verification.

Differentiator

Problem solved

Functional benefit

Brands

• SACE Connects: Free program that connects Italian SMEs with international buyers through business matching events
• SACE Education
• ESG Hub
• Export Map (Mappa dell'Export)
• Italy Map

Products and services

• Export UP

Quantifiable outcome

• €54 billion resources mobilized in 2025
• +3 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Three partnerships are on record, tiered strategic and core.

• MAIRE GroupstrategicStrategic or Co-development PartnerMAIRE Group supports the downstream phosphoric acid plant at Port Saguenay for First Phosphate, providing engineering expertise for the Ballestra technology-based facility.
• FincantiericoreStrategic or Co-development PartnerSACE backed $1.7 billion ECA financing for Fincantieri to build two luxury cruise vessels for A&K Crystal brand, with ships built at Marghera shipyard near Venice.
• ICE (Italian Trade Agency)coreStrategic or Co-development PartnerCollaboration with ICE as part of Sistema Italia network to support Italian enterprises in international markets, including joint initiatives at bilateral business forums.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Euler Hermes (Allianz Trade): Euler Hermes, now Allianz Trade, is the world's largest trade credit insurer and a direct competitor to SACE in export credit insurance. Both provide commercial and political risk cover for exporters, though Euler Hermes operates globally as a private insurer while SACE holds Italy's state-backed ECA mandate.
• Export-Import Bank of the United States (US ExIm Bank): The US ExIm Bank is the United States' official export credit agency, providing loans, guarantees, and insurance to support U.S. exports. While much larger and federally chartered, it competes with SACE on major international project financings and buyer credit deals.
• Export Development Canada (EDC): EDC is Canada's state-owned export credit agency providing insurance, guarantees, and financing for Canadian exporters. It serves as a comparable peer to SACE in product breadth, state backing, and support for SME and large enterprise internationalization.
• Japan Bank for International Cooperation (JBIC): JBIC is Japan's policy-based financial institution supporting Japanese exports, investments, and resource development abroad. It competes with SACE for major international project financings and serves a comparable state-backed development mandate.

Direct peers

• Coface: Coface is a French-headquartered trade credit insurer offering export credit insurance, surety, factoring, and credit information—directly mirroring SACE's product set. Both compete in European export credit insurance markets and Coface's state-linked history makes it a particularly close peer to SACE.
• Atradius: Atradius is a leading European trade credit insurer offering export credit insurance, surety, collections, and credit information. It competes head-to-head with SACE on cross-border receivables protection across European export corridors.
• BPI France: BPI France is France's public investment bank and ECA counterpart to SACE, providing export guarantees, insurance, and financing for French exporters. Both institutions are state-backed development finance entities with similar mandates to support national export competitiveness.
• UK Export Finance (UKEF): UKEF is the UK's official ECA providing export credit insurance, guarantees, and buyer credit financing for UK exporters. It directly parallels SACE's mandate as a state-backed ECA focused on supporting domestic exporters in international markets.
• CESCE (Compañía Española de Seguros de Crédito a la Exportación): CESCE is Spain's official ECA providing export credit insurance and guarantees for Spanish companies abroad. As another Southern European state-backed ECA with a similar Mediterranean exporter base, CESCE is one of the closest geographic and product peers to SACE.

Emerging players

• KUKE (Korporacja Ubezpieczeń Kredytów Eksportowych): KUKE is Poland's official ECA providing export credit insurance and guarantees for Polish exporters. While smaller than SACE, it operates under a comparable state-backed model and serves a similarly positioned European manufacturing exporter base.

Market position

Strengths5 records

Weaknesses3 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/SACEgroup
• YouTubeyoutube.com/channel/UCiwKRtAOqJNt9QBDqcA9jIQ
• Facebookfacebook.com/SACEgroup
• LinkedInlinkedin.com/company/sace
• Instagraminstagram.com/GRUPPOSACE

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments8 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SACE