Australian developed buy now pay later (BNPL) for the European markets, Scalapay, hit unicorn status in 2022; now they’re giving back to the start-up community by announcing pioneering brewery management software start-up Abbl, as the inaugural recipient of the Scalapay Scale Up Scholarship.
Valued at $10,000 AUD and aiming to empower the future of fintech, the Scalapay Scale Up Scholarship will provide Abbl with a residency at the University of Wollongong’s business incubator program iAccelerate and invaluable mentorship advice and support from the experienced Scalapay team.
Johny Mitrevski, Co-Founder and CTO of Scalapay said, “In an age where technology is re-shaping industries at an unprecedented pace, it’s inspiring to witness individuals and companies who are not just keeping up, but also pushing the boundaries of innovation.
“The journey of Abbl showcases the transformative power of fintech to catalyse progress, empower businesses, and shape a more inclusive efficient future.”
Abbl’s co-founder Lucy Timpano expressed her enthusiasm for the Scalapay Scale Up Scholarship, “We are incredibly thankful to be granted the Scalapay Scale Up Scholarship,”
“Through this program, we hope to learn how to take our business from its infancy to be a global leader. Scalapay has learned many lessons in growth and scaling that we feel will be able to help us immensely.” Timpano said.
Scalapay was founded in 2019 by UOW engineering alumni Johnny Mitrevski, Simone Mancini, and has quickly become one of Europe’s most important payment companies.
The company employs 190 people across six countries, with a core tech team of 35 employees based in Wollongong on the NSW South Coast.
In 2021, Scalapay was awarded the Startup of the Year in Italy and became the primary sponsor for Milan Fashion Week and X-Factor Italy.
In 2022, after securing $692 million in a Series B financing round, the company achieved unicorn status, awarded to privately held startups valued at over US$1 billion.
