By Gloria Methri
Today
- Europe
- Financial Superapp
- FinTech
Global FinTech company SumUp has raised €1.5 billion from private credit lenders in a round led by Goldman Sachs. A one-of a kind private credit deal in recent years, the funding will be used to refinance existing debt and seize global growth opportunities.
The new SumUp investors include AllianceBernstein, Apollo Global Management, Arini, Deutsche Bank AG, Fortress Investment Group, SilverRock Financial Services, and Vista Credit Partners. They join the existing list of investors BlackRock, Crestline Investors, Liquidity Capital, Oaktree Capital Management, Sentinel Dome, and Temasek, with Goldman Sachs leading the private credit debt deal.
SumUp CFO Hermione McKee said, “SumUp has always enjoyed solid and steady support from the investor community, and it’s this continued backing that has enabled us to grow sustainably over the past 10+ years, serving millions of merchants of all sizes globally. As the company scales further and our services and products continue to expand, our requirements from capital markets have evolved.”
He added, “Lenders understand and support our mission to create a world where everyone can build a thriving business and recognise our successful methods of achieving, sustaining, and balancing profitability and growth. This new financing will support us as we focus on providing best-in-class support experiences for our merchants and giving them the products and tools they need to succeed.”
Founded in 2012, SumUp is the financial partner for more than 4 million small merchants in 36 markets worldwide, helping them start, run and grow their businesses. Through its SuperApp, SumUp can provide merchants with a free business account and card, an online store, and an invoicing solution—as well as in-person and remote payment acceptance seamlessly integrated with SumUp’s card terminals and point-of-sale registers.
By securing this funding, the company proactively seeks to take advantage of organic and inorganic growth opportunities in the future.
