The BNPL startups have skyrocketed in the pandemic-era e-commerce market. At this point in time, a leading payment solution in Ireland, Scalapay offers ‘buy now, pay later’ options for customers without interest. In a recent development, the fintech announced that it has raised $155 million in equity funding as a part of the Series A investment round.
Growth and expansion plans
The investment round was led by Tiger Global alongside participation from new investors Baleen Capital and Woodson Capital and existing investors Fasanara Capital and Ithaca Investments. Scalapay will use the funds to grow its team and operations. The latest funding brings the total amount raised to $203 million since its launch. Also, it is now valued at $700 million.
Also, the funds will help the company scale internationally and launch new products to support merchants in luxury, fashion, and travel. Already, Scalapay offers its services in a slew of European markets, including Italy, France, Portugal, Finland, Belgium, Germany, Spain, Netherlands and Austria. Their team size has doubled to over 150 people, since January 2021.
Founded in 2019 by Simone Mancini and Johnny Mitrevski, Scalapay’s payment solution has provided 3,000+ merchant partners with an immense impact, marking the platform as one of the most used payment methods in Southern Europe.
