UK-based mobile payments co SumUp raises Euros 300 mn from Bain,others

Marc-Alexander Christ

Marc-Alexander Christ, Co-Founder at SumUp

European mobile payments major SumUp has raised Euros 330 million from Bain Capital Credit, Goldman Sachs Private Capital, HPS Investment Partners, and TPG Sixth Street Partners.

The London-based FinTech firm, which allows businesses of all sizes to receive payments quickly and simply, both in-store and online, plans to use this capital to accelerate its growth and acquire new merchants in its 31 markets globally.

Marc-Alexander Christ, Co-Founder of SumUp, said, “…As one of the fastest growing technology companies in the world, this cash injection will significantly accelerate the growth of our customer base, enhance SumUp’s technology leadership position, and drive the development of new services.”

Besides, the company plans to use the fresh funds to expand its product suite, both organically and through more acquisitions (M&A). The company has recently broadened its product portfolio through the acquisition of Debitoor, for accounting and invoicing, and Shoplo, for ecommerce and marketplaces.₹

The company plans to continue its track record of over 120% year-over-year growth. SumUp is looking to grow its 1500+ strong team with the world’s best talent across its 15 offices on three continents.

With over 4,000 companies joining the platform daily, SumUp has over 1.5 million users who use its card terminals globally thus generating over Euros 200 million in revenue this year.

Goldman Sachs International acted as lead structuring agent, Barclays Plc as structuring agent, and Weil, Gotshal & Manges acted as legal adviser on this deal.

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