SumUp raises €330m to Accelerate Growth
Bain Capital Credit, Goldman, HPS & TPG Sixth Street back SumUp in building the first ever global card acceptance brand.
London - 16th of July, 2019 - SumUp, announces today that it has raised a €330m facility from Bain Capital Credit, Goldman Sachs Private Capital, HPS Investment Partners, and TPG Sixth Street Partners.
SumUp will use this capital to accelerate its growth and win even more new merchants across its 31 markets around the globe. The new funds will be used to continue expanding SumUp’s product suite, both organically and through more acquisitions (M&A). The company has recently broadened its product portfolio through the acquisition of debitoor for accounting and invoicing and Shoplo for ecommerce and marketplaces.
The company plans to continue its impressive track record of over 120% year-over-year growth. SumUp is looking to grow its 1500+ strong team with the world’s best talent across its 15 offices on three continents.
SumUp was named Europe’s fastest-growing company in the ‘Inc. 5000’ as over 4,000 companies join the platform every day. With its proprietary card terminals relied upon by over 1.5 million businesses globally, SumUp expects to generate over €200m in revenue this year.
“We believe in affordable, simple and reliable technology that empowers small businesses all over the world to be successful doing what they love,” says Marc-Alexander Christ, co-founder of SumUp, “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.”
Goldman Sachs International acted as lead structuring agent, Barclays Plc as structuring agent, and Weil, Gotshal & Manges acted as legal adviser to SumUp on the financing.