Irish BNPL Firm Scalapay Bags US$155 Million to Fund Its Expansion Plansby Fintechnews Switzerland September 13, 2021
Ireland-based buy now pay later (BNPL) firm Scalapay has raised US$155 million in equity funding as part of its Series A investment round. The company is now valued at US$700 million.
The latest funding round brings the total amount raised to US$203 million in two years since launch.
The round was led by Tiger Global, with participation from Baleen Capital and Woodson Capital. The new investors join existing investors Fasanara Capital and Ithaca Investments.
This new funding will go towards Scalapay’s growing team and operations. In July, Scalapay appointed Pingki Houang as General Manager, previously General Director for ShowroomPrive and Chief Executive of FashionCube as well as Arlene Reynolds, previously Head of Global Operations for Just Eat to oversee operations and country expansion.
Additionally, the new funding will help scale internationally and launch new products to support merchants in luxury, fashion, and travel.
The company was founded in 2019 and since its launch, Scalapay have opened their services to Italy, France, Germany, Spain, Portugal, Finland, Belgium, Netherlands and Austria.
“We are giving customers the ability to enjoy the small pleasures in life without needing to compromise; a favorite fragrance, dress or romantic weekend. This has become especially important over the past year as many of us rethink what’s important.
We want to bring the Italian concept of dolce vita and slowing down to enjoy the small things in life – to the rest of the world, via our partners.”
said Simone Mancini, Co-Founder and CEO of Scalapay.
Featured image: (From left to right) Raffaele Terrone CFO, Simone Mancini CEO, Johnny Mitrevski CTO, Pingki Houang, General Manager