Global fintech SumUp raised €1.5 billion from private credit lenders in a round led by Goldman Sachs – one of the largest European private credit deals of its kind in recent years. „The money will be used to refinance existing debt and seize global organic and inorganic growth opportunities in the future.” – according to the press release.
„With this deal, existing and new investors confirmed their conviction in SumUp’s established and successful business model, which has generated positive EBITDA since December 2022 and over a decade of sustained growth. Interest from the market was significant, such that the round was ultimately oversubscribed.” the company said.
The new SumUp investors are AllianceBernstein, Apollo Global Management, Arini, Deutsche Bank AG, Fortress Investment Group, SilverRock Financial Services, and Vista Credit Partners. They join existing investors such as Funds managed by BlackRock, Crestline Investors, Liquidity Capital, Oaktree Capital Management, Sentinel Dome, and Temasek, with Goldman Sachs leading the private credit debt deal.
SumUp CFO – Hermione McKee: “SumUp has always enjoyed solid and steady support from the investor community, and it’s this continued backing which 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.”
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From taking payments and processing orders, to customer acquisition and managing your money–with SumUp, it’s possible. Over 4 million business owners that rely on SumUp to get paid
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
