US VC Tiger Global invests in Italian FinTech
Tiger Global's stake in the Buy Now, Pay Later (BNPL) startup ScalaPay is its first venture into the European BNPL market.
The funding round values ScalaPay at $700mn
Scalapay launched in 2019 and has 3,000 merchant partners across Europe.
What does this mean?
The funding will be used to finance expansion plans possibly into both the UK and Europe which partly explains the choice of a US VC. It will also help reinforce the C-suite.