Six-year-old digital payments startup SumUp has managed to secure a 330 million-euro ($371 million) loan, backed by Bain Capital Credit and Goldman Sachs Private Capital. The new funds will reportedly go toward financing expansion, according to Bloomberg. The firm is reportedly looking to grow its customer base in the 31 markets where it is already doing business.
SumUp offers a variety of consumer financial services products and is hoping to add to that list, possibly via acquisitions. As of today, SumUp makes credit card readers to help businesses of all sizes receive payments faster, both in-store and online. It has also taken improving contactless payments of all sorts as part of its future mandate.
“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,” said Marc-Alexander Christ, co-founder of SumUp.
Goldman Sachs International served as lead structuring agent in the deal.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More