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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