Scalapay Buys Italian Payment Company Called Cabel IP

Scalapay, a BNPL unicorn, has bought the Italian payment company Cabel IP to help it grow across Europe.

With more than 5,000 stores and 7,000 physical points of sale, Scalapay’s pay-in-three-instalments product reaches more than 3.5 million users.

With the purchase of Cabel IP, the company can now offer its BNPL product to merchants along with an integrated payment service.

“This license means that merchants can now integrate Scalapay via their payment service provider (PSP),” says Simone Mancini, CEO of Scalapay. “We have a long waiting list of merchants who want to integrate our solutions through their PSP. Many of them are looking for an alternative BNPL solution that has a higher level of awareness and offers more value to merchants.”

Scalapay has raised more than $727 million in funding so far, including a $27 million investment from Poste Italiane in May of last year, which was an extension of the company’s $497 million Series B fundraising round in February.

Since then, the company has made progress in France, Spain, and the UK. Last year, it teamed up with UK-based circular economy fintech company Twig to let customers resell products they bought through a buy now, pay later service and get paid up front by Twig.