SumUp raises €285m to fuel global expansion

SumUp provides payment products and financial services

SumUp has secured €285m in a funding round led by Sixth Street Growth, with participation from Bain Capital Tech Opportunities, Fin Capital and Liquidity Group.  

The fresh funds are earmarked for expanding SumUp’s global presence and delivering the tools and services tailored for small merchants to support their business at every stage. 

Established in 2012, SumUp recently ventured into Australia, its 36th market. The company works with brands such as JCB and Apple and has raised more than €1.75bn in funding.  

SumUp, with a client list exceeding 4 million businesses worldwide, provides payment products and financial services.  

Through SumUp’s app, merchants can access a business account, an online store and an invoicing solution.  

Recent expansions in SumUp’s product lineup include a cash advance partnership with VPC in the UK, Tap to Pay on iPhone in the UK, France and the Netherlands, and the launch of SumUp One—a membership plan that bundles its most sought-after features.  

Hermione McKee, SumUp’s chief financial officer, commented on the round: “Our mission is to create a world where everyone can build a thriving business.  

“This funding gives us additional firepower to pursue growth opportunities and accelerate products that empower small businesses.” 

Nari Ansari, managing director at Sixth Street Growth, added: “How people do business continues to change and SumUp is always there, on the side of their merchants, giving them the tools to make it easier to get paid doing what they love.” 

Darren Abrahamson, managing director at Bain Capital Tech Opportunities, said: “SumUp continues to deliver on the promise of helping small businesses thrive.” 

Image: Canva 

Josh Poyser Josh Poyser is an editor at FinTech Intel. He has written about fintech for several years and appeared at FinTech Connect 2023 on the 'Unlocking Success: The Art of Fintech PR' panel.