Scalapay raises $48m to expand buy now pay later service in Europe

Italy headquartered buy now and pay later venture, Scalapay, has raised a $48 million seed round led by Fasanara Capital and also including Baleen Capital, and Italian Family Office Ithaca Investments.

Simone Mancini, Co-founder and Chief Executive Officer, says: "This new funding allows us to support our pipeline of merchants across Europe and further our mission by giving merchants exciting tools to make their e-commerce experience magical."

"I was impressed with the fast growth of the company and the underlying model," comments Francesco Filia, CEO at Fasanara Capital. "They have shown resilience during a difficult period and I'm excited by where the company is headed."

"Scalapay's platform delights customers while driving dramatic results for merchants," adds Fang Li, Managing Partner, Baleen Capital.

"As a long-time investor in the BNPL industry, I have been beyond impressed by Scalapay's team, execution, and product vision. I believe the company is on the way to building a valued and leading partner for European retailers."

Scalapay currently has over 1,000 merchants across France, Italy and Germany. Customers include Decathlon, Calzedonia, Bata, Aosom and Bricobravo.

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