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Draft:Scalapay

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Scalapay
Company typePrivate
IndustryFinancial Technology
Founded2019
FoundersSimone Mancini
Johnny Mitrevski
HeadquartersDublin, Ireland
Area served
Europe
Key people
Simone Mancini (CEO)
Johnny Mitrevski (CTO)
Luca Scelsa (CFO)
Websitehttps://www.scalapay.com/

Scalapay is a financial technology service founded in 2019 by Simone Mancini and Johnny Mitrevski. The company is headquartered in Dublin, Ireland[1], and provides a "buy now, pay later" (BNPL) model that allows consumers to purchase items and pay for them over time in installments.[2][3] In January 2022, Scalapay achieved a unicorn valuation.[4][5][6] It is the first Italian unicorn since the dotcom boom.[7][8]

History

[edit]

In June 2019, Scalapay was launched in Italy by Simone Mancini and Johnny Mitrevski later expanding to France in April 2020.[9] By August 2020, the company introduced an in-store product.[10][11]

In January 2021, Scalapay secured a €40M Seed Round investment led by Fasanara Capital,[12][13][14] followed by a $155 million Series A investment led by Tiger Global Management in March of the same year, bringing its valuation to $700 million.[15] The service was launched across Europe in March 2021.[16] In August 2021, Scalapay launched the Pay-By-Link product.

In January 2022, Scalapay achieved a unicorn valuation with a €450M Series B investment led by Tencent.[17][18] It was named Prodotto dell’Anno,[19] and awarded Illawarra Business of the Year.[20]

The company released the "Pay in 4" and "Pay Later" options in March 2022 and raised an additional €25M from Poste Italiane in April 2022, bringing total funding to over $727M.[21][22][23]

In February 2023, Scalapay acquired the Italian payment institution Cabel IP (now Scalapay IP), enabling integrations with PSPs to boost growth across Europe.[24]

In September 2023, Scalapay partnered with VISA and announced a collaboration with The National Chamber for Italian Fashion in January 2024 to promote sustainable shopping through “slow shopping”.[25]

The company was listed among LinkedIn's Top Startups (Italy) in 2023.[26]

In May 2024, Scalapay announced partnerships with Deutsche Bank to extend installment options, from 3 or 4 installments previously offered by Scalapay to up to 36 installments with Deutsche Bank financing for amounts within 15,000 euros, both online and in-store.[27] Also in May 2024, Scalapay announced its partnership with Dutch payment company Adyen.[28][29]

Operations

[edit]

Scalapay enables customers to split their purchases into 3 to 12 monthly installments without interest. The service is available in over 7,000 physical stores and on the e-stores of more than 8,000 brands.[30][31][32][33]

Scalapay serves more than 6 million customers in Europe, with Italy being the largest market, followed by France and Spain.[34][35] The company has 200 employees and operates offices in Milan, Italy; Barcelona, Spain; Paris, France; Wollongong, Australia; and Dublin, Ireland.

The company's CEO is Simone Mancini.[36]

References

[edit]
  1. ^ Pollock, Sean (19 September 2021). "Dublin-HQ'd firm Scalapay raises at $700m valuation". www.independent.ie. Retrieved 21 September 2024.
  2. ^ Burroughs, Callum. "Tiger Global-backed buy now, pay later startup Scalapay becomes sector's latest unicorn. Here's the 10-slide pitch deck it used to raise $497 million from Tencent". Business Insider. Retrieved 2024-07-29.
  3. ^ "Simone Mancini: "Scalapay? È un unicorno italiano. Qui creiamo valore e paghiamo le tasse"". la Repubblica (in Italian). 2022-09-02. Retrieved 2024-07-29.
  4. ^ "Simone Mancini: "Scalapay? È un unicorno italiano. Qui creiamo valore e paghiamo le tasse"". la Repubblica (in Italian). 2022-09-02. Retrieved 2024-07-29.
  5. ^ Cimpanelli, Giulia (2022-02-23). "Cos'è Scalapay, il terzo "unicorno" italiano che ha appena avuto un finanziamento da mezzo miliardo". Corriere della Sera (in Italian). Retrieved 2024-07-29.
  6. ^ Browne, Ryan (2022-06-28). "As Klarna and Affirm falter, a new breed of 'buy now, pay later' startups are stealing the spotlight". CNBC. Retrieved 2024-07-29.
  7. ^ Gowran, Leigh Mc (2022-02-25). "BNPL start-up Scalapay is Italy's first unicorn after $497m funding round". Silicon Republic. Retrieved 2024-07-29.
  8. ^ "Italian unicorn Scalapay pays out as it acquires Cabel IP". Tech.eu. 2023-03-07. Retrieved 2024-07-29.
  9. ^ Singh, Vishal (24 February 2022). "Klarna-rival Scalapay is Italy's first unicorn; raises $497M from Tencent, Tiger Global, others - Silicon Canals". siliconcanals.com. Retrieved 21 September 2024.
  10. ^ "Scalapay, così i pagamenti dilazionati sono più semplici e veloci". Corriere della Sera (in Italian). 2021-12-09. Retrieved 2024-07-29.
  11. ^ Cimpanelli, Giulia (2022-02-23). "Cos'è Scalapay, il terzo "unicorno" italiano che ha appena avuto un finanziamento da mezzo miliardo". Corriere della Sera (in Italian). Retrieved 2024-07-29.
  12. ^ Lunden, Ingrid (2021-01-28). "Scalapay raises $48M to scale its buy now, pay later service in Europe". TechCrunch. Retrieved 2024-07-29.
  13. ^ Burroughs, Callum. "We got an exclusive look at the pitch deck deck buy now pay later startup Scalapay used to raise a massive $48 million seed round". Business Insider. Retrieved 2024-07-29.
  14. ^ "UK Money Manager Fasanara Raising New Crypto and Fintech Fund". Bloomberg.com. 2022-05-11. Retrieved 2024-07-29.
  15. ^ Lunden, Ingrid (2021-09-09). "Scalapay raises $155M at a $700M valuation as buy now, pay later services continue to boom". TechCrunch. Retrieved 2024-07-29.
  16. ^ "Scalapay: Ratenkauf ohne Zinsen". FAZ.NET (in German). 2021-01-28. Retrieved 2024-07-29.
  17. ^ Cimpanelli, Giulia (2022-02-23). "Cos'è Scalapay, il terzo "unicorno" italiano che ha appena avuto un finanziamento da mezzo miliardo". Corriere della Sera (in Italian). Retrieved 2024-07-29.
  18. ^ Burroughs, Callum. "Tiger Global-backed buy now, pay later startup Scalapay becomes sector's latest unicorn. Here's the 10-slide pitch deck it used to raise $497 million from Tencent". Business Insider. Retrieved 2024-07-29.
  19. ^ "Eletto Prodotto dell'Anno - Eletti 2022 - Scalapay". www.prodottodellanno.it. Retrieved 2024-07-29.
  20. ^ "Winners of the 2022 Illawarra Business Awards". The Illawarra Flame. 2022-10-16. Retrieved 2024-07-29.
  21. ^ "Italian unicorn and Klarna-rival Scalapay raises €25.67M from Poste Italiane: Know more here - Silicon Canals". siliconcanals.com. 2022-05-03. Retrieved 2024-07-29.
  22. ^ Ferraro, Micaela (2022-05-03). "Scalapay, raccolti 27 milioni di dollari da Poste Italiane". Business24tv.it (in Italian). Retrieved 2024-07-29.
  23. ^ "Poste Italiane punta su Scalapay round da 27 milioni di dollari - StartupItalia" (in Italian). 2022-05-03. Retrieved 2024-07-29.
  24. ^ "Italian unicorn Scalapay pays out as it acquires Cabel IP". Tech.eu. 2023-03-07. Retrieved 2024-07-29.
  25. ^ "Visa in partnership con Scalapay per rendere universali i pagamenti rateali". www.teleborsa.it (in Italian). Retrieved 2024-07-29.
  26. ^ Forbes.it (2023-10-04). "Quali sono le 10 migliori startup italiane secondo LinkedIn". Forbes Italia (in Italian). Retrieved 2024-07-29.
  27. ^ "Deutsche Bank e Scalapay, partnership per innovare il credito al consumo in Italia". www.teleborsa.it (in Italian). Retrieved 2024-07-29.
  28. ^ Redacción (2024-07-08). "Adyen integra el servicio BNPL de Scalapay en su plataforma". Mundo Corporativo (in Spanish). Retrieved 2024-07-29.
  29. ^ "Adyen and Scalapay partner to develop BNPL | ADNews - Galitt". adnews.galitt.com. 2024-06-20. Retrieved 2024-07-29.
  30. ^ "Scalapay: come si utilizza e quali sono le condizioni?". Style (in Italian). Retrieved 2024-07-29.
  31. ^ Zinola, Anna (2022-09-01). "Pagamenti a rate con Scalapay o PayPal: come funziona la rateizzazione online". Corriere della Sera (in Italian). Retrieved 2024-07-29.
  32. ^ Lunden, Ingrid (2021-09-09). "Scalapay raises $155M at a $700M valuation as buy now, pay later services continue to boom". TechCrunch. Retrieved 2024-07-29.
  33. ^ "Marqeta Signs Multi-year Contract With Scalapay To Deliver Buy Now Pay Later Across Europe". markets.businessinsider.com. 2024-07-29. Retrieved 2024-07-29.
  34. ^ "Scalapay: Ratenkauf ohne Zinsen". FAZ.NET (in German). 2021-01-28. Retrieved 2024-07-29.
  35. ^ Burroughs, Callum. "Tiger Global-backed buy now, pay later startup Scalapay becomes sector's latest unicorn. Here's the 10-slide pitch deck it used to raise $497 million from Tencent". Business Insider. Retrieved 2024-07-29.
  36. ^ Johansson, Eric (2021-09-16). "CEO interview: Scalapay secures $155m in Series A to take on Klarna". Verdict. Retrieved 2024-07-29.

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