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Shop til you drop: Simone Mancini, CEO of Scalapay

Simone Mancini, CEO and co-founder of Scalapay, a European payment solution provider, speaks with Acuris Capital Intelligence about its recent financing round, as well as its investment and ambitious growth plans.

Interview by Valentina Caiazzo

Q. Scalapay closed a US$155 million Series A financing round last month. What are your current expansion plans?

This new funding, which follows Scalapay's US$48 million seed round in January, will help the company expand the team and operations. The round was led by Tiger Global, with participation from Baleen Capital and Woodson Capital, with existing investors Fasanara Capital and Ithaca Investments also joining.

We will use the fresh funds to help the firm's commercial partners improve and further customise their clients’ shopping experience, especially with regards to check-out technologies.

In the next three years, we aim to reach 20% of all the merchants in Italy, Germany and France, the markets where we already operate. The proceeds will also be used to grow the company's team and operations while helping it scale internationally and launching new products to support merchants in luxury, fashion, and travel.

Q. Are you already planning new funding?

At the moment, after this year's two rounds, we are fully financially equipped to back our near-term plans. We could start looking for new funding in 12 to 18 months’ time once we have consolidated our current objectives. New financing will help us achieve new goals in term of growth. After the next round, we could also consider tapping the capital markets with an IPO.

Q. Do you normally work with advisors?

To date, we have worked with our internal resources only. However, for our next transactions, we are thinking of possibly hiring external advisors, given the size the company will have reached, and the amount of work involved in a similar process.

Q. Will you keep growing organically or will you look at M&A?

We could consider accelerating the firm's growth with strategic M&A, possibly in 12 months’ time. Potential acquisitions would help Scalapay enter new markets, enrich its services portfolio—for instance, with new check-out technologies—and improve its logistics services.

A bit of background: Scalapay is a third-party payment solution that enables customers to buy now and pay later without interest. It aims to increase customers’ spending power by spreading payments over three instalments. For merchant partners, this drives new custom, and increases average basket sizes by 48% and conversion at checkout by 11%. Simone Mancini currently works as CEO and co-founder of Scalapay. He previously worked at Prospa as product manager of new ventures.

This interview has been edited for clarity and length.