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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 subsequent stage.
The Wollongong-headquartered purchase now pay later (BNPL) turned a $1 billion+ valuation “unicorn” in 2021 after US VC Tiger World backed its $210 million sequence 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 title 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 certainly one of Europe’s most necessary cost corporations.
Johny Mitrevski, the fintech’s chief technical officer, stated Scalapay Scale Up Scholarship is a approach 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 12 months
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 discovered many classes in development and scaling that we really feel will have the ability to assist us immensely.”
Mitrevski stated the scholarship will present the Abbl group with a residency on the College of Wollongong’s enterprise incubator program iAccelerate, alongside mentorship recommendation and assist from the Scalapay group.
“In an age the place expertise is re-shaping industries at an unprecedented tempo, it’s inspiring to witness people and corporations who aren’t 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 group of 35 in Wollongong.
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