PayTech venture SumUp secures major cash injection
SumUp has raised a €750 million facility from Goldman Sachs, Temasek, Bain Capital Credit, Crestline, and funds managed by Oaktree Capital Management.
The company helps businesses take card payments.
It will use the cash for M&A, international expansion and to grow its employee count across its 19 international offices.
Marc-Alexander Christ, Co-founder at SumUp, comments: “As one of the fastest growing technology companies in the world, this cash injection - in addition to having the built-in option to expand the financing - will significantly accelerate the growth of our customer base, enhance our technology leadership position, and drive the development of new services to support our merchants globally.”
Tom Maughan from Bain Capital Credit, says: ”We’re proud to be backing SumUp once again and we recognise the truly impressive strides made by the company over the past couple of years.”
“We have huge admiration for what it is doing for small businesses across the world in helping them to keep trading and flourishing in some of the most trying economic circumstances imaginable.”
“The doubling down of our investment in SumUp in this round is both a demonstration of our confidence in the company today and its strong future.”
