Scalapay is the third buy now, pay later service to receive funding from Tencent in the past four months, in a series B round valuing it in excess of $1bn.
Internet group Tencent co-led a $497m series B round for Italy-based buy now, pay later (BNPL) service Scalapay on Wednesday at a valuation of over $1bn.
The round was co-led by Willoughby Capital and included Tiger Global Management, Moore Capital, Deimos Capital, Gangwal and Fasanara Capital. It took the company’s total funding to over $700m.
Founded in 2019, Scalapay provides a payment service that lets shoppers stagger their payments across multiple instalments at no interest.
The product is already used…
Fernando Moncada Rivera
Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
