Thursday, June 20, 2024

SumUp raises €330m to accelerate growth

SumUp (sumup.co.uk), announces today that it has raised a €330m facility from Bain Capital Credit, Goldman Sachs Private Capital, HPS Investment Partners, and TPG Sixth Street Partners.

SumUp will use this capital to accelerate its growth and acquire new merchants in its 31 markets across the globe. The new funds will be used to continue expanding SumUp’s 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.

SumUp was named Europe’s fastest-growing company in the ‘Inc. 5000’ in 2018 and has over 4,000 companies joining the platform daily. With its card terminals relied upon by over 1.5 million users globally, SumUp expects to generate over €200m in revenue this year.

Marc-Alexander Christ, Co-Founder of SumUp, comments: “We believe in affordable, simple, and reliable technology that empowers small businesses all over the world to be successful doing what they love. 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.”

Goldman Sachs International acted as lead structuring agent, Barclays Plc as structuring agent,
and Weil, Gotshal & Manges acted as legal adviser to SumUp on the financing.

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