The European Investment Bank (EIB) has announced that it has signed a €70 million Scale Up Debt framework financing agreement with Scalapay, an Italian fintech company founded in 2019 and now one of the leading players in the buy now pay later (BNPL) market in Europe.
The announcement was signed in Milan by EIB Vice-President Gelsomina Vigliotti and Scalapay CEO Simone Mancini and represents the EIB’s first direct financing to an Italian scale-up.
The resources made available by the EIB will help Scalapay enhance its range of payment products and services, making the end consumer experience simpler and more comprehensive. Thanks to these measures, Scalapay will continue to consolidate its position among European companies operating in the field of smart financial solutions and offering services designed to engage users in the best possible way.
“With this financing, the EIB is strengthening the European digital payments ecosystem by supporting a company that has grown rapidly by focusing on technology, security and service quality,” said Vigliotti in a statement. “Through our TechEU investment programme, we aim to support the most innovative companies at every stage of their development: from idea to listing on the stock exchange and beyond. This intervention promotes innovation and competitiveness, ensuring that our technological champions grow and remain in Europe.”
“We are delighted to announce this agreement,” said Mancini. “The financing, which demonstrates the EIB’s confidence in us, will enable us to further accelerate Scalapay’s growth, expand our offering and better support the development of the markets in which we operate. This is another step forward for the company. For our consumers, it means more products and greater flexibility to meet their needs.
The agreement between the EIB and Scalapay provides for a Scale Up Debt loan, a financial instrument developed under TechEU, the investment programme launched by the EIB Group to strengthen innovation and technological leadership in Europe. TechEU aims to invest €70 billion in equity, quasi-equity, loans and guarantees over the three-year period 2025-2027, with the goal of mobilising €250 billion in investments in the real economy. With Scale Up Debt, the EIB supports highly innovative companies in the growth phase prior to listing on the stock exchange, without reducing the participation of founders and private investors. The operation also benefits from the support of the European Union through the InvestEU programme, of which the EIB Group is the main implementing partner. (pictured: the signing of the agreement).
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