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SumUp has raised €1.5bn from private credit lenders in a round led by Goldman Sachs. The money will be used to refinance existing debt and seize global growth opportunities. SumUp says that the deal highlights existing and new investors conviction in SumUp’s established and successful business model. This has generated positive EBITDA since December 2022 combined with over a decade of sustained growth. Interest from the market was significant and SumUp says that the round was ultimately oversubscribed.
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 including 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. This continued backing 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.”
Founded in 2012, SumUp is the financial partner for more than 4 million small merchants in 36 markets worldwide, helping them start, run and grow their business.
"SumUp raises €1.5bn, funding round led by Goldman Sachs" was originally created and published by Retail Banker International, a GlobalData owned brand.
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