Pioneering brewery administration software program start-up Abbl is recipient of unicorn standing Scalapay’s inaugural $10,000 Scale Up Scholarship
Quiet Australian fintech Scalapay has launched a brand new $10,000 scholarship program to assist founders as they take their startup to the following stage.
The Wollongong-headquartered purchase now pay later (BNPL) turned a $1 billion+ valuation “unicorn” in 2021 after US VC Tiger International backed its $210 million collection A. Simply 5 months later, the enterprise bagged a staggering $692 million Sequence B. However in contrast to different native fintechs, Scalapay is not a family identify right here, as a result of its focus is the European market.
Scalapay was based in 2019 by College of Wollongong engineering alumni Johnny Mitrevski, Simone Mancini, and is now one in every of Europe’s most vital cost corporations.
Johny Mitrevski, the fintech’s chief technical officer, stated Scalapay Scale Up Scholarship is a means of giving again after that success.
The inaugural recipient of the $10,000 award is one other Wollongong resident, brewery administration software program startup Abbl, which Lucy Timpano and Phil O’Shea, the creators of Wollongong’s 5 Barrel Brewing, launched final yr
Timpano stated they have been thrilled to be chosen.
“By means of this program, we hope to discover ways to take our enterprise from its infancy to be a world chief,” she stated.
“Scalapay has realized many classes in progress and scaling that we really feel will be capable of assist us immensely.”
Mitrevski stated the scholarship will present the Abbl crew with a residency on the College of Wollongong’s enterprise incubator program iAccelerate, alongside mentorship recommendation and assist from the Scalapay crew.
“In an age the place expertise is re-shaping industries at an unprecedented tempo, it’s inspiring to witness people and corporations who are usually not simply maintaining, but additionally pushing the boundaries of innovation,” he stated.
“The journey of Abbl showcases the transformative energy of fintech to catalyse progress, empower companies, and form a extra inclusive environment friendly future.”
Scalapay now employs 190 folks throughout six nations, with a core tech crew of 35 in Wollongong.