SumUp is a global fintech that provides payments and business tools to millions of merchants of all sizes. The company has generated positive EBITDA since December 2022 and has delivered over a decade of sustained growth. SumUp says it balances sustainable growth with fiscal responsibility, launching new markets and products while keeping finances under control. Management intends to use new capital to refinance existing debt and to pursue organic and inorganic global growth opportunities. Investor interest was strong and the company reports the round was oversubscribed, which SumUp cites as confirmation of market confidence in its business model. SumUp plans to continue scaling its services and products to provide merchants with tools and best-in-class support experiences. SumUp builds card readers and point-of-sale tools and offers related services such as invoicing, loyalty programs and business accounts to small merchants. The company is planning continued organic expansion of financial services around its hardware and is targeting more geographies beyond the 36 markets where it currently operates. SumUp is also pursuing inorganic growth through M&A, having previously acquired U.S. loyalty startup Fivestars in 2021 to expand services and U.S. presence. The business says it has been "positive on an EBITDA basis since Q4 2022" and reports over 30% year‑over‑year top-line growth. Its customer count is about 4 million, a figure unchanged from two years ago, indicating mixed operational signals. SumUp is a London-based financial technology company led by Marc-Alexander Christ, serving more than 4 million small merchants in over 35 markets. The company offers card terminals and point-of-sale registers, in-person and remote payments, a free business account and card, an online store, and invoicing. Its SumUp Cash Advance product provides merchants with advances of up to £20,000 based on their payment history. Advances are repaid through payment acceptance with SumUp card readers in a flexible, incremental manner. Merchants pay a fixed fee for access to advances and are not charged monthly interest or hidden fees. SumUp says it will use new financing to expand its merchant cash advance product and support UK-based merchants. SumUp started as a maker of card-reader dongles and has expanded into a broader suite of payments and business services used by about 4 million SMBs in 35 markets. The company now employs roughly 3,000 people and offers products including POS payments, online payments, and a business banking product used by about 10% of its customers. SumUp has pursued M&A to build its platform, acquiring companies such as Payleven, Goodtill, Tiller and U.S.-based loyalty startup Fivestars. Management says revenues have grown roughly 60% annually over the last couple of years, while POS payments remain the bulk of revenue. The company is pursuing further product development, hiring and additional acquisitions as it expands into more emerging markets (its most recent launch was Peru) and continues to focus on Europe as its largest geography. SumUp offers physical card readers and a suite of payments services — online payments, invoicing and POS solutions — to merchants, taking a cut of transactions as its primary revenue model. The company operates in 33 countries and serves roughly 3 million businesses. SumUp has grown in part through acquisitions (including Payleven in 2016 and more recent purchases such as Paysolut, Goodtill and Tiller) to expand its product set and geographic footprint. Its stated strategy is to build more services for businesses and scale transaction volume rather than move into consumer-facing financial products or cryptocurrency. The company says it has stable cash flow, which it cited as a reason for choosing debt financing to avoid dilution. SumUp is London-based and was founded in 2012.

Total raised

$3.9B

Funding rounds

11

Latest round

Debt Financing

Latest activity

May 2024