SumUp, an mPOS and payments company, announced a new investment from BBVA Ventures, a venture branch of multinational banking group BBVA, to help push businesses into Spain and South America, reported The Next Web. BBVA’s funding will help support SumUP develop a stronger presence in Spain and Portugal, two countries where the company is already present. SumUp will additionally use the support to expand operations in South America.
SumUp did not reveal the amount of the BBVA Venture investment, however said that it was a continuation of the Series B round.
We are delighted to bring on BBVA Ventures as a new financial investor. International expansion is a key component of our growth story. Having BBVA as a strong partner at our side as we expand to regions beyond Europe – in particular South America – is invaluable,” commented Jan Deepen, SumUp’s co-founder.
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