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Draft:Scalapay

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Scalapay
TypePrivate
IndustryFinancial technology
Founded2019
FounderSimone Mancini, Johnny Mitrevski
HeadquartersMilan, Italy
Area served
Europe
Key people
Simone Mancini (CEO), Johnny Mitrevski (CTO)
Websitescalapay.com

Scalapay is a European financial technology company that provides buy now, pay later (BNPL) services, enabling consumers to split purchases into interest-free installments at the point of sale.[1] Founded in 2019 by Simone Mancini and Johnny Mitrevski, the company is headquartered in Milan, Italy, and operates across several European countries.[2]

In February 2022, Scalapay raised $497 million in a Series B round led by Tencent, reaching a unicorn valuation.[3] Its regulated subsidiary, Scalapay IP S.p.A., holds a payment institution license issued by the Bank of Italy.[4]

History

Simone Mancini, originally from Tuscany and raised in Australia, and Johnny Mitrevski, a telecommunications engineering graduate of the University of Wollongong, founded Scalapay in 2019 after observing the absence of BNPL services in Southern Europe.[5][6] Both founders had previously worked in Australian technology companies, with Mancini at fintech firm Prospa and Mitrevski at Qantas and the Commonwealth Bank of Australia.[7]

The company launched in Italy in June 2019 and expanded to France in 2020.[8] In January 2021, Scalapay raised $48 million in a seed round led by Fasanara Capital.[2][9] In September 2021, Tiger Global Management led a $155 million Series A round, valuing the company at $700 million.[10][11]

In February 2022, Scalapay raised $497 million in a Series B round led by Tencent and Willoughby Capital, reaching unicorn status.[8][12] In May 2022, Poste Italiane invested an additional $27 million.[13] Total equity funding exceeded $727 million.

In March 2023, Scalapay acquired Italian payment institution Cabel IP, a company with nearly 40 years of operating history, renaming it Scalapay IP S.p.A. The acquisition, authorized by the Bank of Italy, gave Scalapay its own payment institution license under the EU's Payment Services Directive (PSD2).[4][14]

In October 2023, Scalapay signed a five-year exclusive contract with Marqeta for virtual card issuance across Europe.[15][16] In May 2024, the company announced partnerships with Deutsche Bank for installment financing up to 36 months[17] and with Adyen for payment processing integration.[18]

In December 2025, the European Investment Bank (EIB) signed a €70 million financing agreement with Scalapay under the TechEU programme.[19] In February 2026, the company partnered with PPRO to extend BNPL access to merchants across five European markets.

Operations

Scalapay offers consumers several installment options at the point of sale, including three or four interest-free installments and deferred full payment within 14 days.[20] Through its Deutsche Bank partnership, the company also offers 6 to 36 monthly installments on purchases up to €15,000.[21]

Unlike some competitors, Scalapay does not perform traditional credit checks; instead, first-time users are limited to smaller purchases, with spending limits increasing based on repayment history.[5]

The company operates in Italy, France, Spain, Portugal, and Belgium, with offices in Milan, Barcelona, Paris, and Wollongong, Australia.[22][6]

Reception

Scalapay was named Prodotto dell'Anno (Product of the Year) in Italy in 2022[23] and was listed among LinkedIn's Top Startups in Italy in 2023.[24] The EU's revised Consumer Credit Directive (CCD2), adopted in 2023, brought short-term BNPL products within the scope of consumer credit regulation, requiring affordability assessments that would affect Scalapay's no-credit-check model.[25][5]

References

  1. Burroughs, Callum (25 February 2022). "Tiger Global-backed buy now, pay later startup Scalapay becomes sector's latest unicorn". Business Insider. Retrieved 14 April 2026.
  2. Lunden, Ingrid (28 January 2021). "Scalapay raises $48M to scale its buy now, pay later service in Europe". TechCrunch. Retrieved 14 April 2026.
  3. Browne, Ryan (28 June 2022). "As Klarna and Affirm falter, a new breed of 'buy now, pay later' startups are stealing the spotlight". CNBC. Retrieved 14 April 2026.
  4. "Italian unicorn Scalapay pays out as it acquires Cabel IP". Tech.eu. 7 March 2023. Retrieved 14 April 2026.
  5. Johansson, Eric (16 September 2021). "CEO interview: Scalapay secures $155m in Series A to take on Klarna". Verdict. Retrieved 14 April 2026.
  6. "Wollongong-founded Scalapay becomes a unicorn after just three years in business". Business News Australia. 25 February 2022. Retrieved 14 April 2026.
  7. Johansson, Eric (16 September 2021). "CEO interview: Scalapay secures $155m in Series A to take on Klarna". Verdict. Retrieved 14 April 2026.
  8. Cimpanelli, Giulia (23 February 2022). "Cos'è Scalapay, il terzo «unicorno» italiano". Corriere della Sera (in Italian). Retrieved 14 April 2026.
  9. "UK Money Manager Fasanara Raising New Crypto and Fintech Fund". Bloomberg. 11 May 2022. Retrieved 14 April 2026.
  10. Lunden, Ingrid (9 September 2021). "Scalapay raises $155M at a $700M valuation as buy now, pay later services continue to boom". TechCrunch. Retrieved 14 April 2026.
  11. "Scalapay raises $155m in Europe's largest ever equity funding round". Finextra. 9 September 2021. Retrieved 14 April 2026.
  12. "Italy gets its first unicorn as Scalapay raises $497m from Tencent". Sifted. February 2022. Retrieved 14 April 2026.
  13. "Italian unicorn and Klarna-rival Scalapay raises €25.67M from Poste Italiane". Silicon Canals. 3 May 2022. Retrieved 14 April 2026.
  14. "Scalapay Acquires Italian Payment Institution Cabel IP". PYMNTS. 2 March 2023. Retrieved 14 April 2026.
  15. "Marqeta and Scalapay Team to Expand Europe's BNPL Use". PYMNTS. October 2023. Retrieved 14 April 2026.
  16. "Marqeta inks deal with European BNPL firm Scalapay". Finextra. October 2023. Retrieved 14 April 2026.
  17. "Deutsche Bank e Scalapay, partnership per innovare il credito al consumo in Italia". Teleborsa (in Italian). 9 May 2024. Retrieved 14 April 2026.
  18. "Adyen and Scalapay partner to develop BNPL". ADNews Galitt. 20 June 2024. Retrieved 14 April 2026.
  19. "European Investment Bank invests 70 million euros in Italian company Scalapay". Reuters. 18 December 2025. Retrieved 14 April 2026.
  20. "Scalapay: come si utilizza e quali sono le condizioni?". Corriere della Sera Style (in Italian). Retrieved 14 April 2026.
  21. "Deutsche Bank e Scalapay, partnership per innovare il credito al consumo in Italia". Teleborsa (in Italian). 9 May 2024. Retrieved 14 April 2026.
  22. "Buy Now Pay Later startup Scalapay raises $155m Series A". AltFi. 9 September 2021. Retrieved 14 April 2026.
  23. "Eletto Prodotto dell'Anno - Eletti 2022 - Scalapay". Prodotto dell'Anno. Retrieved 14 April 2026.
  24. "Quali sono le 10 migliori startup italiane secondo LinkedIn". Forbes Italia (in Italian). 4 October 2023. Retrieved 14 April 2026.
  25. "Directive (EU) 2023/2225 — Consumer Credit Directive (CCD2)". EUR-Lex. Retrieved 14 April 2026.