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SumUp is a leading global digital payments provider, with more than three million small businesses worldwide connecting with their customers through its integrated services, products, and solutions. It was founded in 2012 by Jonas Henriksson and Daniel Klein to create a payment platform that could simplify transactions for small businesses.

Since its inception, the Berlin-based company has provided merchants various payment methods such as offline cards, contactless cards, Apple Pay and Google Pay. In addition, SumUp also offers an array of e-commerce solutions for online payments.

Today, SumUp has grown into a major global payments provider, having raised more than USD 895 million in loan financing for future growth and expansion plans. This funding round was led by J.P Morgan and Goldman Sachs with participation from multiple investors including Santander Group.

In addition to this, SumUp has recently established a presence in Brazil by acquiring Mobicred which is the largest independent payment processor of e-commerce transactions in the country. With this acquisition, SumUp will be able to tap into new markets in South America while offering state-of-the-art technology solutions to merchants within Brazil.

Early History

SumUp was launched in 2012 as a digital payments provider in Europe, allowing merchants to accept card payments quickly and easily. Through continual innovation and strategic partnerships, SumUp quickly grew in popularity, and by 2015 it was the leading digital payments provider in Europe, processing more than 500,000 transactions a day.

In 2017, the company launched its first international expansion, moving into Russia and Brazil. From there, it expanded even further, and today it is present in 30 countries across five continents.

Founded in 2011

SumUp, a leading digital payments provider, was founded in 2011 by Daniel Klein and Marc Albaum. With their dream to create high-quality financial solutions for independent businesses and customers, they designed the world’s first mobile point of sale (POS) solution to help small businesses accept electronic payments.

SumUp was initially active in Germany and expanded over time into other markets across Europe, Latin America, North America, and Canada. The innovation behind their idea enabled them to not only complete an overwhelming number of transactions but also manage different forms of payment from debit cards to contactless solutions such as Apple Pay and Google Pay.

In 2015 the company raised USD 75 million in Series C funding intending to continue product development, expansion and scaling up its business model across Europe. A year later they completed their Series D funding round where they raised USD 100 million led by Groupon intending to enhance and improve payment solutions for independent businesses across Europe and other international markets.

By then, SumUp was already processing millions of transactions all around the globe every month among which 95% were done via card payment solutions such as Mastercard, American Express or Visa with Apple Pay being increasingly popular then too. This digital payments provider reached more than 25 countries by 2019 when it completed another round of funding worth USD 895 million from the investment firm Berkshire Hathaway Inc., Tiger Global Management LLC and DST Global.

All these investments gave them access to technologies belonging to digital banking groups like Curve which enabled SumUp’s retail customers – ranging from restaurants owners or hairdressers – to manage multiple transactions quickly, easily and safely in one go all through their app SumUp Air while supporting multiple types of currencies at once including euros or US dollars.

Early Funding Rounds

In 2012, SumUp began by raising €1.2 million in a Series A round from Tengelmann Ventures and the team of early-stage investors. The money was used to launch the first mobile Point-of-Sale (mPOS) terminal, allowing small business owners to accept payments on their mobile devices.

The success of this product led to further rounds of funding. In 2013, SumUp raised $20 million in a Series B round led by SFC Capital, Shortcut Ventures and b-to-v Partnerships AG. This allowed them to expand their operations to the UK, Ireland and Austria.

In 2015, they increased their investment with an additional $45 Million raised in a Series C round from Groupon’s Lonin Investors, First Alpha Venture Partners and American Express

Ventures among others. Following that investment round, they raised $152 million as part of a late stage venture capital (VC) funding round in early 2016.

SumUp followed this up with two more rounds before securing the USD mentioned above 895 million loan from Sumitomo Mitsui Banking Corporation Europe Ltd (SMBCE). This loan was used to help fund an expansion into seven new markets in South America and Eastern Europe and provide working capital for acquisitions made between January 2019 and June 2020.


Digital payments provider SumUp has recently secured a loan of USD 895m from multiple financial institutions to fund their growth. This is the latest move in the company’s expansion efforts, having grown from a small startup in 2012 to a global digital payment solutions provider.

Let’s dive into the company’s history to see how it has evolved.

Expansion into Europe

In 2019, the digital payments provider SumUp furthered its presence in the European market when it raised USD 895 million in debt and capital to support its growth and expansion throughout Europe. The financing round was led by American investment firm Tiger Global Management, with participation from Montagu Private Equity and a group of institutions including Waterland Financial Holdings, Gilde Equity Management Benelux, Kreos Capital and Santander. This move allowed SumUp to acquire more customers and expand into five new European markets — France, Italy, Poland, Portugal and Spain — and offer existing services in several existing markets.

As part of their aggressive expansion plan, SumUp also acquired several other digital financial companies including German payment gateway Paysquare and Dutch payments processor Payolution to extend its scope of services beyond just credit cards to include invoices and direct debit payments as well. Furthermore, the company opened a development center in Berlin and hired 70 engineers from across Europe at various sites. Finally, SumUp’s partner program enabled the company to partner with national post offices across 12 European countries such as Sweden Postnord AB, Austrian based A1 Telering GmbH & Co KG or Post Luxemburg Umweltdienst Investitionsgesellschaft GmbH & Co KG amongst others.

SumUp’s understated mission statement defines itself simply as ‘turning borders into bridges’ aims to create an ecosystem that provides small businesses with everything they need for quick international business transactions. Currently used by 3 million merchants in 30 countries, this round of funding is furthering its growth but cementing their position as one of Europe’s leading providers for digital payment solutions.

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Expansion into North America

SumUp, a digital payment provider, announced on November 25 it had secured 895 million USD in debt financing with JP Morgan and Goldman Sachs. The funds will primarily go towards the company’s expansion into North America.

Since launching in 2012, London-based SumUp has become a prominent player in Europe’s payment technology industry, counting merchants such as Starbucks or Uber amongst the company’s customers. The firm allows small businesses to accept card payments easily and securely by offering hardware and software components such as iPhones and Android devices that enable cashless transactions.

The influx of capital provided by JP Morgan and Goldman Sachs is seen as a confidence booster for the firm which also wants to expand into Latin America where credit cards are still rarely used for purchases, particularly for small retailers such as grocery stores or shops selling clothes. Moreover, the move is expected to bring higher revenues than those earned in Europe thanks to the availability of untapped markets still untapped by competitors like Square or Adyen.

Moreover, with increasing numbers of shoppers turning away from cash payments, SumUp will be able to capture more market share in North American countries where most consumers still use traditional paper money for everyday purchases. This year alone 20 new employees were hired across the United States who are now based in six cities ranging from Los Angeles and Denver to New York City.

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Digital payments provider SumUp borrows USD 895m to fund growth

Digital payments provider SumUp has recently closed a USD 895 million debt financing round to fuel its expansion. This follows several recent developments which have been key to the company’s growth, including new partnerships and products.

In this section, we will explore SumUp’s recent developments and what they mean for the future of the payments industry.

Acquisition of Payleven

In January 2019, Digital payments provider SumUp announced the acquisition of Berlin-based payment provider Payleven, which was seen as giving it a competitive edge in the European market. The all-cash deal was valued at more than USD 150 million. Founded in 2012, Payleven had raised over USD 60 million to date and became one of Europe’s top digital payments providers.

By acquiring Payleven, SumUp expanded its product offering beyond digital payments. It secured a stronger foothold in the German market—the world’s third largest payments market after the United States and China. According to the company’s CEO, this move “was an ideal opportunity for [SumUp] as debit cards remain widely prevalent across Europe [and] it also gives them access to new potential products and markets.” This includes small business financing plans that can be bundled into no-fee merchant accounts for frequent customers or subsidized terminal hardware for seasonal customers.

With the merger, SumUp’s total funding will increase to USD 895m, enabling growth opportunities such as new product development and deeper market penetration across Europe. Moreover, it will leverage its larger customer base along with experience of two of Europe’s largest players in card payment processing technology — with over 500.000 merchants utilizing both companies combined — helping accelerate innovation on both sides while striving to make card transactions on both online and offline commerce more secure and cost-efficient for businesses everywhere.

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USD 895m Funding Round

In May, digital payments provider SumUp raised USD 895 million through new shares and bonds, significantly increasing its valuation to USD 5 billion. This was the first funding round since the company raised USD 300 million in a Series D investment in late 2018. The round included existing investors Atomico, BBVA, Groupon Plus and Rakuten Capital and bondholders Temasek and Goldman Sachs.

The funds will be used to support further growth of the company across Europe and Latin America. Specifically, SumUp plans to pursue ambitions in core geographies such as Germany, Italy, Spain and Brazil. Additionally, the company aims to strengthen its product development strategy that emphasizes the customer experience of their innovative payment services.

SumUp is one of Europe’s leading mobile point-of-sale solution providers with a presence in 31 countries worldwide including popular markets such as Germany and Brazil. In 2020 alone they processed more than 39 billion EUR down from 65 billion EUR due to the impact of COVID-19 on hospitality businesses around Europe. Since launching in 2011, this is their fourth funding round with total disclosed equity funding adding up to over USD 900 million across four rounds since 2011 by June 2021.


In conclusion, SumUp has experienced a considerable growth rate, even over the last few years with their digital payments platform becoming increasingly popular. The company has achieved this by leveraging its service and technology to offer consumers fast and secure payment solutions. The investment from Goldman Sachs is a vote of confidence in the SumUp’s business model and its potential for future success.

In addition, this new partnership will help them to expand their services into new markets in Europe, Asia, Latin America, Africa and the Middle East. As digital payments become more popular worldwide, SumUp is well-positioned to capitalize on this trend and remain an industry leader in providing secure payment solutions.

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