• SumUp

  Participated · Equity · Aug 2015

  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.

• SERVIZ

  Led · Equity · Oct 2014

  SERVIZ operates an on-demand booking and job-allocation technology platform and a proprietary network of independent service professionals to deliver lower-cost home repairs. The company offers more than 300 services across five primary categories, including handyman, plumbing, carpet cleaning, appliance repair, and electrical. SERVIZ pros are background-checked, licensed, and insured, and work is backed by a 100% satisfaction guarantee. Headquartered in Sherman Oaks, CA, the company currently serves the greater Los Angeles area, including Orange County, and plans nationwide expansion. Management reports the platform scheduled over 10,000 appointments across five categories within five months of launch, with appointment volume growing more than 50% month-over-month. SERVIZ’s stated mission is to eliminate excessive mark-ups charged by traditional home services providers. SERVIZ operates an on-demand home services platform via Serviz.com and an iPhone app, offering more than 300 services from handyman work to plumbing, carpet cleaning and appliance repair. The service provides upfront, all-inclusive pricing (users pay $45–$60 per hour depending on service, and parts are marked up 20%), real-time technician tracking, same-day booking, paperless estimates/payments, and a 100% satisfaction guarantee. SERVIZ requires pros to pass criminal background checks, carry insurance, and maintain licenses where applicable. The company positions itself to disrupt the $400 billion home services industry and says additional service categories are coming soon. SERVIZ announced general availability in the greater Los Angeles area and is headquartered in Sherman Oaks, California. The company completed a $10.7M funding round in February led by Groupon, with participation from angel investors and the two founders.

• ClubLocal

  Led · Equity · Feb 2014

  ClubLocal operates an end-to-end online and mobile platform that lets customers instantly book and buy home services across many categories via its website and iPhone/Android apps. Since launching in August 2012 the company has completed over 11,000 home repair jobs and expanded from its Dallas base into the San Francisco Bay Area, with plans to serve other U.S. cities. Its service promise includes sending “A” rated service professionals within a two-hour window and a ClubLocal Satisfaction Guarantee. The company offers a wide range of services including plumbing, HVAC, electrical, appliance repair, cleaning, pest control and more. The recent financing, led by Groupon, will be used to expand geographic footprint, grow its network of independent service providers, and accelerate new features on its online and mobile booking and transaction platform. ClubLocal is headquartered in Encino, CA, and is led by CEO Zorik Gordon.

No current team members are available.