SCALAPAY

The founders had Australian roots. Mancini was born in Italy and raised in Australia, and Mitrevski studied engineering in Wollongong.

In 2019 they built Scalapay for the European market, incorporating the company in Dublin while running it from Milan. The bet was that European shoppers wanted the installment habit already big in Australia and the United States.

Merchants pay, shoppers do not. When you buy with Scalapay, the store pays a commission and Scalapay hands the merchant the full amount right away.

You then repay in interest-free installments. Scalapay makes its money on that merchant fee, plus longer financing plans it offers through bank partners.

The core options are Pay in 3 and Pay in 4, interest-free installments, plus a pay-later choice that defers the full amount by a couple of weeks. Through a banking partnership it offers longer monthly plans up to 36 months.

Its Magic checkout platform ties it all together for merchants.

Two tracks. First, spread fast across Europe, into Italy, France, Spain, Portugal, and Belgium.

Second, move beyond payments into the whole checkout. Scalapay launched a checkout product called Magic to cut abandoned carts, and it bought Cabel IP in 2023 to get its own payment license.

A tie-up with Deutsche Bank added longer installment plans.

The funding winter hit BNPL hard after 2022, and Scalapay had to keep raising through a cold market. Regulation is tightening across the EU.

And like every installment lender, it has to prove the model makes money once credit losses are counted. Scale helps.

By late 2025 it reported more than 11 million users and over 10,000 partner brands.

Scalapay pulled in a heavy roster. Tencent and Willoughby Capital co-led the Series B that made it a unicorn.

Tiger Global led the earlier Series A. Other backers include Fasanara Capital, the Gangwal family, Moore Capital, and Poste Italiane.

The European Investment Bank later added debt financing.