- SumUp secures €285 million in fresh funding for international growth and expanding payment services for SMEs.
- Sixth Street Growth leads the funding round, joined by Bain Capital Tech Opportunities, Fin Capital, and Liquidity Group.
- This funding adds to the €1.5 billion raised since SumUp’s 2012 inception and a $100 million credit facility secured in August.
- Valued at around €8 billion ($8.6 billion) after a June 2022 funding round, SumUp’s latest injection likely surpasses this figure.
- CFO Hermione McKee emphasizes the funding’s role in empowering small businesses with accelerated products.
- Operating in 36 markets, SumUp serves over 4 million clients with financial and payment products.
- Recent initiatives include a cash advance partnership, 7 am payouts feature, and access to UK Faster Payments via a deal with Form3.
- SumUp claims positive EBITDA since Q4 2022 and maintains 30% top-line growth year over year.
- The funds will be used to expand SumUp’s global footprint and provide essential tools for small merchants to start, run, and grow their businesses.
SumUp bags €285m in latest funding round to fuel expansion plans
