No, you did not wake up back in 2021 but there is news this morning of a €285 Million (over $300m) fintech funding round.
Germany-founded but London-based SumUp has closed the massive funding round that is “mostly equity” which tempers our initial enthusiasm somewhat. But even a nine-figure equity round is enough to make the news these days.
No news on valuation other than it is higher than the $8.5 billion valuation SumUp achieved in 2022.
SumUp is a payments fintech focused on small businesses with four million small business customers in Europe, the Americas and Australia. They own the Fivestars loyalty app popular in this country and compete directly with PayPal and Square in many geographies.
Now 11 years old SumUp is one of the largest privately held payments startups in Europe. Even if we don’t know the full details of the funding round hats off to them for an up-round and large equity infusion.
Peter Renton is the chairman and co-founder of Fintech Nexus, the world’s largest digital media company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series.