SumUp Raises €285 Million ‘Firepower’ for Global Growth

Payments firm SumUp has raised €285 million ($306 million) to fund international expansion and new products for businesses.

The raise was mostly equity with some debt and led by Sixth Street Growth alongside Bain Capital Tech Opportunities, Fin Capital, and Liquidity Group, according to a statement on Monday. The London-based company maintained its internal valuation of $8.5 billion.

“This funding gives us additional firepower to pursue growth opportunities and accelerate products that empower small businesses,” said SumUp Chief Financial Officer Hermione McKee.

SumUp makes card readers used by more than 4 million merchants and also offers online payment services. ...