Clifford and Orrick advise Tencent on investment in Italy's first unicorn

Clifford and Orrick advise Tencent on investment in Italy's first unicorn

Scalpay is an innovative payment solution for e-commerce merchants to allow customers to 'buy-now-and-pay-later' without interest

London-based law firm Clifford Chance has advised Tencent, a Chinese multinational technology and entertainment conglomerate, on its role as lead investor in the $497 million Series B equity financing of Italian firm Scalpay.

Becoming the first unicorn in Italy after the funding round, Scalpay was advised by California, US-headquartered law firm Orrick, Herrington & Sutcliffe.

Founded in 2019, the Milan-headquartered Scalpay boasts of several prestigious clients including Shein, Moschino, Samsonite, Pandora and Nike.

While the Clifford team was led by partner Bryan Koo and supported by partners Claudio Cerabolini, Lucio Bonavitacola, Frédérick Lacroix, Laurent Schoenstein, and Marc Benzler, the Orrick team was led by partners Attilio Mazzilli and Shawn Atkinson.

Other investors in the funding included Tiger Global, Gangwal, Moore Capital, Deimos, and Fasanara Capital.