Payments FinTech SumUp has raised $307mn to expand its footprint and develop new services.
In brief:
- The company was valued at $8.5bn following another round in 2022 and SumUp also raised a $100mn credit facility in August of this year.
- The British company, SumUp, whose products include point-of-sale card readers, announced the funding Monday (Dec. 11).
- The company’s products and services also include a cash advance offering through a partnership with VPC in the U.K., as well as Tap to Pay on iPhone for customers.
What does this mean?
“This funding gives us additional firepower to pursue growth opportunities and accelerate products that empower small businesses,” Hermione McKee, SumUp's CFO.
