SumUp enhances payments for SMEs with €330m funding
SumUp, the payments firm for SMEs, has raised a €330 million facility from Bain Capital Credit, Goldman Sachs Private Capital, HPS Investment Partners, and TPG Sixth Street Partners.
The firm 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.
The company has recently broadened its product portfolio through the acquisition of Debitoor, for accounting and invoicing, and Shoplo, for ecommerce and marketplaces.
SumUp is looking to grow its 1500+ team across its 15 offices on three continents. The firm reports over 4,000 companies joining the platform daily.
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.”
Goldman Sachs acted as lead structuring agent, Barclays as structuring agent, and Weil, Gotshal & Manges acted as legal adviser to SumUp on the financing.