SumUp closes EUR 590 mln funding round

Thursday 23 June 2022 13:00 CET | News

SumUp, a UK-based company, has closed in on a major round of funding of EUR 590 million (USD 624 million).

The money will be used for acquisitions, more hiring (it now employs some 3,000 people), and more organic product development, according to TechCrunch.

The investment – led by Bain Capital Tech Opportunities, with participation also from funds managed by BlackRock, btov Partners, Centerbridge, Crestline, Fin Capital, and Sentinel Dome Partners, and others – is coming in the form of 50% equity and 50% debt and values SumUp at EUR 8 billion (USD 8.5 billion).

SumUp serves more than four million small businesses operating in 35 countries worldwide. In 2021 the firm acquired the Lithuania-based fintech Paysolut, with the aim of creating stronger banking solutions and expanding the company’s international reach.

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Keywords: funding, acquisition, expansion, financial services, digitalisation
Categories: Banking & Fintech
Companies: SumUp
Countries: United Kingdom
This article is part of category

Banking & Fintech


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