Buy now, pay later provider Scalapay has scored $27m in a Series B extension round led by Poste Italiane, Italy’s largest service infrastructure network.
This investment was an extension to its $497m Series B, which closed back in February 2022. Tencent and Willoughby Capital led the round, with contributions also coming from Tiger Global, Gangwal, Moore Capital, Deimos and Fasanara Capital.
The initial Series B round had brought Scalapay into the unicorn club.
With the funds, Scalapay plans to expand its team, bolster its product development efforts, and bolster its brand. It also hopes to grow its executive team and company board.
Based in Italy, Scalapay is a payment solution for e-commerce merchants around the world that allows customers to buy products and pay for them at a later date. Payment options are to pay in three installments, four instalments or in its entirety after 14 days.
The BNPL platform has raised a total of $727m in funding.
Poste Italiane claims to be Italy’s largest service infrastructure network. It offers postal, financial, insurance, payments, telco, and digital services to households, businesses, and public administrations.
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