Global Fintech SumUp Raises €1.5bn in Private Credit

In what is the largest private credit transactions seen in Europe for some years, global fintech SumUp has raised €1.5bn (US$1.6bn) in a private credit round led by Goldman Sachs. 

This latest funding comes just a few months after the global fintech secured investments of US$307m in December 2023, in a round led by Sixth Street Growth, with further participation from Bain Capital Tech Opportunities, Fin Capital, and Liquidity Group.

The deal is a massive boost for SumUp, which reaffirms market confidence in its growth prospects after a series of solid revenue performances, generating positive earnings before interest, taxes, depreciation and amortisation (EBITDA) since December 2022 and sustaining growth over a decade.

With its new funding secured, SumUp aims to solidify its leading market position by refinancing existing debt and capitalise on further global growth opportunities.

SumUp: A safe bet for investors

By demonstrating a unique ability to balance sustainable growth with fiscal responsibility by launching markets and products while keeping finances under control, SumUp represents a safe bet for new and existing investors. 

Such has been the marked success of SumUp’s sustained growth that its latest funding round was, in fact, oversubscribed. 

Returning SumUp investors BlackRock, Crestline Investors, Liquidity Capital, Oaktree Capital Management, Sentinel Dome, Temasek and Goldman Sachs were joined by new venture capitalists AllianceBernstein, Apollo Global Management, Arini, Deutsche Bank AG, Fortress Investment Group, SilverRock Financial Services and Vista Credit Partners.

SumUp Chief Financial Officer (CFO), Hermione Tomic, says: “SumUp has always enjoyed solid and steady support from the investor community, and it’s this continued backing that has enabled us to grow sustainably over the past 10+ years, serving millions of merchants of all sizes globally. 

“As the company scales further and our services and products continue to expand, our requirements from capital markets have evolved. Lenders understand and support our mission to create a world where everyone can build a thriving business, and recognise our successful methods of achieving, sustaining, and balancing profitability and growth. 

“This new financing will support us as we focus on providing best-in-class support experiences for our merchants and giving them the products and tools they need to succeed.”

SumUp has recently continued its support for merchants by launching new products, such as its Cash Advance service, released in 2023 to support businesses during a difficult economic period. 

It also helped support SMEs through the cost-of-living crisis by launching POS Lite, a point-of-sale (POS) payments solution to support small, independent businesses. 

With its latest funding, SumUp is well-positioned to take advantage of future organic and inorganic growth opportunities. 

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