SumUp announces major cash injection

PayTech venture SumUp has secured a €330 million loan, backed by the likes of Bain Capital Credit, Goldman Sachs Private Capital, HPS Investment Partners and TPG Sixth Street Partners.

The London-based company produces card readers that help small businesses receive payments both in-store and online. It says over 4,000 companies are signing up daily and that it currently has around 1.5 million active users SumUp expects to generate €200 million-plus in revenue this year.

Marc-Alexander Christ, Co-Founder, 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.”