Scalapay to raise $48M in a round led by Fasanara Capital, with participation from Baleen Capital, and Italian Family Office Ithaca Capital.

Scalapay, a Milan, Italy-based provider of a third-party payment solution that enables customers to buy now and pay later (BNPL) without interest, announced securing funding of $48M in seed funding.

The money was raised from investors led by Fasanara Capital, with participation from Baleen Capital, and Italian Family Office Ithaca Capital.

In conjunction with the funding announcements, Raffaele Terrone will join as CFO, (previously worked for Goldman Sachs), Mirco Mattevi as Head of Product (previously worked at Afterpay) and Daniele Tessari as Sales Manager.

Scalapay, founded in 2019 by Simone Mancini and Johnny Mitrevski, provides a third-party payment solution that enables customers to buy now and pay later (BNPL) without interest and merchants to grow sales, acquire new customers, and provide a better customer experience.

The company says that it works with over 1,000 merchants across France, Italy and Germany. Customers include merchants such as Decathlon, Calzedonia, Bata, Aosom and Bricobravo.