Scalapay acquires Cabal IP

 

Italian buy-now-pay-later startup Scalapay acquired payments solutions provider Cabel IP S.p.A for an undisclosed sum.  The acquisition will help Scalapay to launch new products and services and boost its deployment across Europe.  Scalapay's CEO Simone Mancini said, "This license means that merchants can now integrate Scalapay via their payment service provider (PSP)." The deal was completed on Mar. 2, 2023, with Scalapay becoming the sole stakeholder in Cabel. Scalapay intends to rebrand Cabel to Scalapay IP S.p.A.  Mancini founded Scalapay along with Johnny Mitrevski.  The firm cemented its unicorn status in 2022, crossing a valuation of €1B.  Per Crunchbase, the firm has raised over $720M in total funding to date, last closing a $27M Series B round led by Poste Italiane in May 2022.