New investment round for SumUp, a fintech active in the digital payments industry, which reports that it has raised €1.5 billion from private lenders in a round led by Goldman Sachs that adds to the €285 million round closed in December 2023.
With this transaction, new and previous investors confirm their confidence in SumUp‘s business model, which has positive Ebitda since December 2022 and has more than a decade of sustained growth. The market responded with great interest to the round, which attracted far more investment demand than demand.
SumUp ‘s new investors are AllianceBernstein, Apollo Global Management, Arini, Deutsche Bank AG, Fortress Investment Group, SilverRock Financial Services, and Vista Credit Partners, joining the entities that have invested in previous deals, including funds managed by BlackRock, Crestline Investors, Liquidity Capital, Oaktree Capital Management, Sentinel Dome, and Temasek, with Goldman Sachs leading the operation.
Acceleration of the growth process
“Thanks to the continued support of the investment community, SumUp has been able to grow sustainably and continuously for more than 10 years, working globally alongside millions of merchants of all sizes,” said Hermione McKee, CFO of SumUp, in a note. “As the company and the SumUp ecosystem of products and services have expanded, the need for capital to sustain and continue the expansion journey has also grown. Lenders support our mission to create the conditions for anyone to build a thriving business and recognize our ability to achieve and sustain our goals while balancing profitability and growth. This new funding will enable us to further enhance the support we provide to merchants and continue to offer them the best products and tools they need to successfully run their businesses.”
In recent years SumUp has proven itself capable of balancing sustainable growth with fiscal responsibility, launching new products in several markets and maintaining its financial strength. Through this transaction, SumUp further strengthens its position and ability to seize new organic and inorganic growth opportunities in the future.
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