SumUp Closes a 1.5 Billion Euro Round: What Are the Company’s Plans Now

The digital payments fintech company SumUp has closed a round of one and a half billion euros led by Goldman Sachs in which some private financiers also participated. The funds will be used to refinance existing debt and capture new growth opportunities globally.

The new round of SumUp

The fintech company which last December raised 285 million euros, now aims to consolidate its leadership in the digital payments market. “With this new financing, SumUp will be able to continue its growth path by adding other products to its ecosystem and expanding its offering to an ever-increasing number of customers.”

The objective remains to create an environment in which every entrepreneur has the opportunity to start a thriving business, contributing to positive change and ensuring equal opportunities for all types of commercial activities,” Hermione McKee, CFO of SumUp, said an interview.

Who invested in SumUp

Among the new investors: AllianceBernstein, Apollo Global Management, Arini, Deutsche Bank AG, Fortress Investment Group, SilverRock Financial Services and Vista Credit Partners, which join the companies that have invested in previous operations, including the funds managed by BlackRock, Crestline Investors, Liquidity Capital, Oaktree Capital Management, Sentinel Dome and Temasek, with Goldman Sachs leading the operation.

SumUp raised 285 million last December

The capital injection comes after last year’s 590 million euro increase thanks to which the company founded in 2012 was valued at 8 billion euros. This latest investment is led by Sixth Street Growth with participation from Bain Capital Tech Opportunities, Fin Capital and Liquidity Group.

The capital raised will be used to expand SumUp’s market presence globally and continue to provide merchants with tools and services to start, manage and grow their businesses

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(Featured image by kscneider2991 via Pixabay)

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