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Scalapay

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Scalapay
Company typePrivate
IndustryFinancial Technology
Founded2019
FounderSimone Mancini, Johnny Mitrevski
HeadquartersMilan, Italy
Area served
Europe
Key people
Simone Mancini as CEO, Johnny Mitrevski as CTO, Luca Scelsa as 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 Milan, Italy, and provides a "buy now, pay later" (BNPL) model that allows consumers to purchase items and pay for them over time in installments.[1][2] In January 2022, Scalapay achieved a unicorn valuation.[3][4][5] It is the first Italian unicorn since the dotcom boom.[6][7]

History

[edit]

Scalapay launched in Italy in June 2019 and expanded to France in April 2020. By August 2020, the company introduced an in-store product.[8][9]

In January 2021, Scalapay secured a €40M Seed Round investment led by Fasanara Capital,[10][11][12] 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.[13] The service was launched across Europe in March 2021.[14] 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.[15][16] It was named Prodotto dell’Anno,[17] and awarded Illawarra Business of the Year.[18]

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.[19][20][21]

In February 2023, Scalapay acquired the Italian payment institution Cabel IP (now Scalapay IP), enabling integrations with PSPs to boost growth across Europe.[22]

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”.[23]

The company was listed among LinkedIn's Top Startups (Italy) in 2023.[24]

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.[25] Also in May 2024, Scalapay announced its partnership with Dutch payment company Adyen.[26][27]

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.[28][29][30][31]

Scalapay serves more than 6 million customers in Europe, with Italy being the largest market, followed by France and Spain.[32][33] 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.[34]

References

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  1. ^ 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.
  2. ^ "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.
  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. ^ 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.
  5. ^ 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.
  6. ^ 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.
  7. ^ "Italian unicorn Scalapay pays out as it acquires Cabel IP". Tech.eu. 2023-03-07. Retrieved 2024-07-29.
  8. ^ "Scalapay, così i pagamenti dilazionati sono più semplici e veloci". Corriere della Sera (in Italian). 2021-12-09. Retrieved 2024-07-29.
  9. ^ 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.
  10. ^ Lunden, Ingrid (2021-01-28). "Scalapay raises $48M to scale its buy now, pay later service in Europe". TechCrunch. Retrieved 2024-07-29.
  11. ^ 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.
  12. ^ "UK Money Manager Fasanara Raising New Crypto and Fintech Fund". Bloomberg.com. 2022-05-11. Retrieved 2024-07-29.
  13. ^ 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.
  14. ^ "Scalapay: Ratenkauf ohne Zinsen". FAZ.NET (in German). 2021-01-28. Retrieved 2024-07-29.
  15. ^ 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.
  16. ^ 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.
  17. ^ "Eletto Prodotto dell'Anno - Eletti 2022 - Scalapay". www.prodottodellanno.it. Retrieved 2024-07-29.
  18. ^ "Winners of the 2022 Illawarra Business Awards". The Illawarra Flame. 2022-10-16. Retrieved 2024-07-29.
  19. ^ "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.
  20. ^ Ferraro, Micaela (2022-05-03). "Scalapay, raccolti 27 milioni di dollari da Poste Italiane". Business24tv.it (in Italian). Retrieved 2024-07-29.
  21. ^ "Poste Italiane punta su Scalapay round da 27 milioni di dollari - StartupItalia" (in Italian). 2022-05-03. Retrieved 2024-07-29.
  22. ^ "Italian unicorn Scalapay pays out as it acquires Cabel IP". Tech.eu. 2023-03-07. Retrieved 2024-07-29.
  23. ^ "Visa in partnership con Scalapay per rendere universali i pagamenti rateali". www.teleborsa.it (in Italian). Retrieved 2024-07-29.
  24. ^ Forbes.it (2023-10-04). "Quali sono le 10 migliori startup italiane secondo LinkedIn". Forbes Italia (in Italian). Retrieved 2024-07-29.
  25. ^ "Deutsche Bank e Scalapay, partnership per innovare il credito al consumo in Italia". www.teleborsa.it (in Italian). Retrieved 2024-07-29.
  26. ^ Redacción (2024-07-08). "Adyen integra el servicio BNPL de Scalapay en su plataforma". Mundo Corporativo (in Spanish). Retrieved 2024-07-29.
  27. ^ "Adyen and Scalapay partner to develop BNPL | ADNews - Galitt". adnews.galitt.com. 2024-06-20. Retrieved 2024-07-29.
  28. ^ "Scalapay: come si utilizza e quali sono le condizioni?". Style (in Italian). Retrieved 2024-07-29.
  29. ^ 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.
  30. ^ 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.
  31. ^ "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.
  32. ^ "Scalapay: Ratenkauf ohne Zinsen". FAZ.NET (in German). 2021-01-28. Retrieved 2024-07-29.
  33. ^ 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.
  34. ^ 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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