Scalapay raises USD 155 mln Series A at a USD 700 mln valuation

Thursday 9 September 2021 14:01 CET | News

Italy-based Buy Now, Pay Later solution Scalapay has announced that it has raised USD 155 million in equity funding as part of their Series A investment round. 
This new funding will go towards Scalapay’s growing team and operations. Additionally, it will help scale internationally and launch new products to support merchants in luxury, fashion, and travel. 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.

According to the company, for merchant partners, their 3 instalment plan drives new customers, increases average basket sizes by 48% and conversion at checkout by 11%.

Since its launch, Scalapay have opened their services to Italy, France, Germany, Spain, Portugal, Finland, Belgium, Netherlands and Austria. Their team has doubled in size, to over 150 people, since their seed funding announcement in January 2021. The latest funding round brings the total amount raised to USD 203 million in two years since launch.

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Keywords: funding, online payments, investment, ecommerce
Categories: Payments & Commerce
Countries: Italy
This article is part of category

Payments & Commerce