Italian Buy Now, Pay Later (BNPL) service Scalapay has announced a new $27 million investment into its services in a Series B extension.
Receiving the investment from Italy’s largest service infrastructure network, Poste Italiane, Scalapay seeks to build an “innovative payment solution for e-commerce merchants”. The BNPL provider looks to expand its offering globally with no interest rates being paid.
Scalapay offers three options for customers, Pay in 3, Pay in 4 and Pay Later, with consumers not required to make any upfront payments. By paying in these instalments, Scalapay aims to give its customers the most amount of flexibility when venturing into their shopping experience.
Poste Italiane is Italy’s largest service infrastructure network, providing postal, financial, insurance, payments, telco, and digital services to households, businesses, and public administrations.
The new funding is a part of the Italian company’s broader Series B fundraising round which it currently has raised $497M since it was announced in February 2022.
Scalapay plans to invest in its recruitment , product development and build upon its brand. The additional funds total out to $727M since funding commenced.
