Total amount raised
$4 Billion
Latest funding date
5/1/2024
Location
SumUp has successfully raised funds through 17 rounds, with the latest being a Debt Financing round led by Goldman Sachs. The company is backed by 38 investors, including notable names like Fortress Investment Group and Apollo.
SumUp offers a range of payment solutions, including card readers and digital payment options, designed to simplify business operations. Keep reading to explore the intricacies of SumUp's fundraising journey and the investors backing this innovative platform.
What Is SumUp?
SumUp is a financial technology company headquartered in London, England, United Kingdom. The company operates in various sectors, including credit cards, financial services, fintech, mobile payments, and point of sale. SumUp enables businesses to accept card payments at the point of sale or on the go.
With an employee count ranging from 1001 to 5000, SumUp is trusted by over 4 million businesses. The company offers a range of payment solutions, including card readers, POS systems, and digital payment tools, designed to simplify business operations with low transaction fees and easy-to-use financial tools.
How Much Funding Has SumUp Raised?
- Debt Financing
- Amount Raised: $1.6 billion
- Date: May 2024
- Lead Investors: Goldman Sachs
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To refinance existing debt and support international growth opportunities.
- Private Equity
- Amount Raised: $307 million
- Date: December 2023
- Lead Investors: Sixth Street
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and operational needs.
- Debt Financing
- Amount Raised: $100 million
- Date: August 2023
- Lead Investors: Victory Park Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand business operations and enhance financial stability.
- Series Unknown
- Amount Raised: $590 million
- Date: June 2022
- Lead Investors: Bain Capital Tech Opportunities
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and invest in technology development.
- Debt Financing
- Amount Raised: $750 million
- Date: March 2021
- Lead Investors: Goldman Sachs
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support business expansion and operational growth.
- Debt Financing
- Amount Raised: $330 million
- Date: July 2019
- Lead Investors: Bain Capital Credit, Goldman Sachs Growth Equity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance financial stability and support growth initiatives.
Total Amount Raised: $3.677 billion. Current Valuation: Not publicly disclosed.
Key Investors
- Goldman Sachs
- Details: Goldman Sachs is a leading global investment banking, securities, and investment management firm. It provides a wide range of financial services to corporations, financial institutions, governments, and individuals.
- Investment Focus Areas: Investment banking, securities, investment management, technology.
- Notable Investments: Uber, Spotify, WeWork.
- Fortress Investment Group
- Details: Fortress Investment Group is a global investment management firm specializing in private equity, credit, and real estate. It manages assets on behalf of over 1,800 institutional clients and private investors worldwide.
- Investment Focus Areas: Private equity, credit, real estate.
- Notable Investments: Intrawest, RailAmerica, GateHouse Media.
- Apollo Global Management
- Details: Apollo Global Management is a leading global alternative investment manager. It specializes in private equity, credit, and real assets, managing assets for institutional and individual investors.
- Investment Focus Areas: Private equity, credit, real assets.
- Notable Investments: ADT, Rackspace, McGraw-Hill Education.
- Sixth Street
- Details: Sixth Street is a global investment firm with over $60 billion in assets under management. It focuses on providing flexible, long-term capital solutions to companies across various industries.
- Investment Focus Areas: Growth equity, credit, infrastructure.
- Notable Investments: Airbnb, Spotify, Legends Hospitality.
- Bain Capital Tech Opportunities
- Details: Bain Capital Tech Opportunities is a division of Bain Capital that focuses on investments in technology companies. It aims to support growth and innovation in the tech sector.
- Investment Focus Areas: Technology, software, digital transformation.
- Notable Investments: Nutanix, A Cloud Guru, BioCatch.
What's Next for SumUp?
SumUp's future looks promising with substantial opportunities for growth. The recent €1.5 billion funding round led by Goldman Sachs provides the financial muscle to expand its product offerings and enter new markets. This capital will help SumUp refinance existing debt and seize global growth opportunities, enhancing its services for millions of merchants worldwide.
Given its strong track record and positive EBITDA, future fundraising opportunities seem likely. The company may attract further investment to support its ambitious growth plans. However, SumUp will need to navigate competitive pressures in the fintech industry and manage the integration of new debt while maintaining profitability.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay's platform to access comprehensive fundraising data on companies like SumUp and gather other critical business insights.
Sign up for free to start exploring the wealth of information available at your fingertips and make informed decisions that drive success.
