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// Workers AI · dad joke modeWhat did Scalapay say to its friend? "Scale back" on spending.

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Scalapay
TypePrivate
IndustryFinancial technology, BNPL
Founded2019
FoundersSimone Mancini
Johnny Mitrevski
Raffaele Terrone[1]
Daniele Tessari
Mirco Mattevi[2]
HeadquartersDublin, Ireland[3]
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.[4][5] It was founded in 2019 by Simone Mancini, Johnny Mitrevski, Raffaele Terrone and Daniele Tessari. Scalapay is headquartered in Dublin, Ireland, and maintains major operating offices in Milan, Barcelona, Paris and Wollongong.[2][6]

In February 2022, Scalapay raised $497 million in a Series B round led by Tencent, reaching a unicorn valuation.[7] Its regulated subsidiary, Scalapay IP S.p.A., holds a payment institution license issued by the Bank of Italy.[8]

History

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Simone Mancini, who was born in Tuscany and raised in Australia, and Johnny Mitrevski, a telecommunications engineering graduate of the University of Wollongong, identified an opportunity to offer buy now, pay later services in Southern Europe. They founded Scalapay in 2019 with Raffaele Terrone and Daniele Tessari.[9][10] 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.[11]

Scalapay expanded to France in April 2020.[12] By August 2020, the company introduced an in-store product.[13][14] In January 2021, Scalapay raised $48 million in a seed round led by Fasanara Capital,[6][15][16] followed by a $155 million Series A investment led by Tiger Global Management in September 2021, valuing the company at $700 million.[17][18]

In February 2022, Scalapay raised $497 million in a Series B round led by Tencent and Willoughby Capital, reaching unicorn status.[12][19] It was named Prodotto dell’Anno,[20] and awarded Illawarra Business of the Year.[21]

The company released the “Pay in 4” and “Pay Later” options in March 2022 and raised an additional $27 million from Poste Italiane in May 2022, bringing total funding to over $727 million.[22][23][24]

Raffaele Terrone, a co-founder of Scalapay, served as its chief financial officer and as a member of its board of directors until September 2022, when he stepped down from both positions. Fang Li subsequently became interim chief financial officer.[25]

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).[8][26]

In September 2023, Scalapay partnered with Visa and announced a collaboration with The National Chamber for Italian Fashion in January 2024 to promote sustainable shopping through “slow payment.”[27]

In October 2023, Scalapay signed a five-year exclusive contract with Marqeta for virtual card issuance across Europe.[28][29] In May 2024, Scalapay announced partnerships with Deutsche Bank to extend installment options up to 36 installments for amounts up to €15,000, both online and in-store,[30] and with Dutch payment company Adyen for payment processing integration.[31][32]

In February 2025, Scalapay expanded its partnership with Stripe to integrate its Buy Now, Pay Later service directly into Stripe's platform.[33] In December 2025, the European Investment Bank (EIB) signed a €70 million financing agreement with Scalapay under the TechEU programme.[34]

Operations

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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.[35][36] Through its Deutsche Bank partnership, the company also offers 6 to 36 monthly installments on purchases up to €15,000.[37]

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.[8] Scalapay is headquartered in Dublin, Ireland, and has operating offices in Milan, Barcelona, Paris, and Wollongong.[38][10]

As of December 2025, the service had over 11 million users and more than 10,000 partner brands.[39]

Reception

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Scalapay’s BNPL was named Prodotto dell’Anno (Product of the Year) in Italy in 2022 and was listed among LinkedIn’s Top Startups in Italy in 2023.[40][41] 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.[42][9]

References

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  1. ↑ "Cofounder of Italy's first unicorn raises $3.3m for AI investment startup". Sifted. Retrieved 9 August 2026.
  2. 1 2 Angelis, Camillo de (23 February 2022). "La fintech italiana Scalapay raccoglie 497 milioni di dollari: ora è un unicorno". Forbes Italia (in Italian). Retrieved 9 August 2026.
  3. ↑ "SCALAPAY LIMITED - UK BRANCH overview - Find and update company information - GOV.UK". service.gov.uk. Retrieved 9 August 2026.
  4. ↑ 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.
  5. ↑ "Simone Mancini: "Scalapay? È un unicorno italiano. Qui creiamo valore e paghiamo le tasse"". la Repubblica (in Italian). 2022-09-02. Retrieved 2026-07-09.
  6. 1 2 Lunden, Ingrid (28 January 2021). "Scalapay raises $48M to scale its buy now, pay later service in Europe". TechCrunch. Retrieved 14 April 2026.
  7. ↑ 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.
  8. 1 2 3 "Italian unicorn Scalapay pays out as it acquires Cabel IP". Tech.eu. 7 March 2023. Retrieved 14 April 2026.
  9. 1 2 Johansson, Eric (16 September 2021). "CEO interview: Scalapay secures $155m in Series A to take on Klarna". Verdict. Retrieved 14 April 2026.
  10. 1 2 "Wollongong-founded Scalapay becomes a unicorn after just three years in business". Business News Australia. 25 February 2022. Retrieved 14 April 2026.
  11. ↑ Johansson, Eric (16 September 2021). "CEO interview: Scalapay secures $155m in Series A to take on Klarna". Verdict. Retrieved 14 April 2026.
  12. 1 2 Cimpanelli, Giulia (23 February 2022). "Cos'è Scalapay, il terzo «unicorno» italiano". Corriere della Sera (in Italian). Retrieved 14 April 2026.
  13. ↑ "Scalapay, così i pagamenti dilazionati sono più semplici e veloci". Corriere della Sera (in Italian). 2021-12-09. Retrieved 2026-07-09.
  14. ↑ Cimpanelli, Giulia (2022-02-23). "Cos'è Scalapay, il terzo «unicorno» italiano che ha appena avuto un finanziamento da mezzo miliardo". Corriere della Sera (in Italian). Retrieved 2026-07-09.
  15. ↑ "UK Money Manager Fasanara Raising New Crypto and Fintech Fund". Bloomberg. 11 May 2022. Retrieved 14 April 2026.
  16. ↑ Burroughs, Callum. "We got an exclusive look at the pitch deck deck buy now pay later startup Scalapay used to raise a massive $48 million seed round". Business Insider. Retrieved 2026-07-09.
  17. ↑ 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.
  18. ↑ "Scalapay raises $155m in Europe's largest ever equity funding round". Finextra. 9 September 2021. Retrieved 14 April 2026.
  19. ↑ "Italy gets its first unicorn as Scalapay raises $497m from Tencent". Sifted. February 2022. Retrieved 14 April 2026.
  20. ↑ "Eletto Prodotto dell'Anno - Eletti 2022 - Scalapay". www.prodottodellanno.it. Retrieved 2026-07-09.
  21. ↑ "Winners of the 2022 Illawarra Business Awards - The Illawarra Flame". The Illawarra Flame. 2022-10-16. Archived from the original on 2025-02-21. Retrieved 2026-07-09.
  22. ↑ "Italian unicorn and Klarna-rival Scalapay raises €25.67M from Poste Italiane". Silicon Canals. 3 May 2022. Retrieved 14 April 2026.
  23. ↑ GmbH, DomainProfi. "Bid on the domain business24tv.it now". nicsell. Retrieved 2026-07-09.
  24. ↑ "Poste Italiane punta su Scalapay round da 27 milioni di dollari - StartupItalia". StartupItalia (in Italian). 2022-05-03. Archived from the original on 2025-02-21. Retrieved 2026-07-09.
  25. ↑ Pulcini, Alessandro (6 September 2022). "Scalapay, Raffaele Terrone non è più il Cfo. Al suo posto Fang Li". Fortune Italia (in Italian). Retrieved 9 August 2026.
  26. ↑ "Scalapay Acquires Italian Payment Institution Cabel IP". PYMNTS. 2 March 2023. Retrieved 14 April 2026.
  27. ↑ "Visa in partnership con Scalapay per rendere universali i pagamenti rateali". www.teleborsa.it (in Italian). Retrieved 2026-07-09.
  28. ↑ "Marqeta and Scalapay Team to Expand Europe's BNPL Use". PYMNTS. October 2023. Retrieved 14 April 2026.
  29. ↑ "Marqeta inks deal with European BNPL firm Scalapay". Finextra. October 2023. Retrieved 14 April 2026.
  30. ↑ "Deutsche Bank e Scalapay, partnership per innovare il credito al consumo in Italia". Teleborsa (in Italian). 9 May 2024. Retrieved 14 April 2026.
  31. ↑ "Adyen and Scalapay partner to develop BNPL". ADNews Galitt. 20 June 2024. Retrieved 14 April 2026.
  32. ↑ Redacción (2024-07-08). "Adyen integra el servicio BNPL de Scalapay en su plataforma". Mundo Corporativo (in Spanish). Retrieved 2026-07-09.
  33. ↑ Redazione (2025-02-25). "Scalapay e Stripe consolidano la partnership: il Buy Now Pay Later diventa accessibile a milioni di nuove aziende e consumatori". Media Key (in Italian). Retrieved 2026-07-14.
  34. ↑ "European Investment Bank invests 70 million euros in Italian company Scalapay". Reuters. 18 December 2025. Retrieved 14 April 2026.
  35. ↑ "Scalapay: come si utilizza e quali sono le condizioni?". Corriere della Sera Style (in Italian). Retrieved 14 April 2026.
  36. ↑ "Scalapay: come si utilizza e quali sono le condizioni?". Style (in Italian). Retrieved 2026-07-09.
  37. ↑ "Deutsche Bank e Scalapay, partnership per innovare il credito al consumo in Italia". www.teleborsa.it (in Italian). Retrieved 2026-07-09.
  38. ↑ "Buy Now Pay Later startup Scalapay raises $155m Series A". AltFi. 9 September 2021. Retrieved 14 April 2026.
  39. ↑ "Italy: EIB invests €70 million in Scalapay to accelerate technological innovation in Europe". European Investment Bank. Retrieved 2026-07-09.
  40. ↑ Forbes.it (2023-10-04). "Quali sono le 10 migliori startup italiane secondo LinkedIn". Forbes Italia (in Italian). Retrieved 2026-07-09.
  41. ↑ "Eletto Prodotto dell'Anno - Eletti 2022 - Scalapay". www.prodottodellanno.it. Retrieved 2026-07-09.
  42. ↑ "Buy Now Pay Later startup Scalapay raises $155m Series A". AltFi. 9 September 2021. Retrieved 14 April 2026.
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