Italian BNPL unicorn Scalapay has secured a $27 million investment from Poste Italiane, one of the largest payment card issuers in Europe.
Poste Italiane serves 35 million customers in Italy, providing postal, financial, insurance, payments, telco, and digital services to households, businesses, and public administrations. Through its fully owned subsidiary PostePay, the postal service has 29 million payment cards, 28 million financial apps, and 9 million digital wallets in circulation.
The investment in Scalapay is an extension of the firm's $497 million Series B fundraising round, which was announced in February 2022, comprising $213m of equity and $284m of debt capital.
Founded in 2019, Scalapay has raised over $727 million in funding to date.
Active in Italy, France, Germany, Spain, Portugal, Finland, Belgium, Netherlands and Austria, the company currently works with high-end international merchants and retailers.
Scalapay's BNPL offerings include three options for customers - Pay in 3, Pay in 4, or settle up after 14 days.