• Archives
  • Cryptocurrency
  • Earnings
  • Enterprise
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact Us
TechBooky
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Search in posts
Search in pages
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Search in posts
Search in pages
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Search in posts
Search in pages

Payment Startup SumUp Gets $624 Million In Funding At A New Valuation Of $8.5 Billion

Ibhadojemu Emmanuel by Ibhadojemu Emmanuel
June 23, 2022
in Uncategorised
Share on FacebookShare on Twitter

Payments startup SumUp has secured €590 million, or $624 million in its latest funding round at a new valuation of $8.5 billion. The latest funding which came in a combination of debt and equity brings the total funding raised by the London-based firm to €1.5 billion. Over the last ten years, the company has raised €1.5 billion but most of this funding had been in debt including a €750 million debt round that took place last year.

Significant parts of the funding received over the years by SumUp have been used to build services beyond its basic POS payments business. The startup has ventured into areas like business banking, and online payments and offers other related business services.

The funding round was led by Bain Capital Tech Opportunities and received participation from funds managed by BlackRock, btov Partners, Centerbridge, Crestline, Fin Capital, Sentinel Dome Partners, and others. SumUp’s rivals include Jack Dorsey-owned Square and PayPal’s Zettle.

SumUp which is active in 35 countries says the recently acquired funds will be used to hire more talents, sponsor acquisitions, and fuel more organic product development. “The funds we’ve raised will enable us to continue to build out our product ecosystem, expand into new markets, and pursue value-adding acquisitions,” co-founder Marc-Alexander Christ said in a statement. Currently, SumUp has about 3,000 employees.

“SumUp has continually evolved to empower a growing and diverse field of small businesses with payment solutions and tools to efficiently connect with their everyday consumers. SumUp’s leadership team has led the company to sustained and accelerated growth through expansion to more than 30 countries where they have had a direct and positive impact on the small business ecosystem. We’re proud to contribute our deep fintech and payments experience to aid SumUp’s remarkable ability to push the boundaries and lead an incredibly competitive industry,” Darren Abrahamson, a managing director at Bain Capital Tech Opportunities, in a statement.

Related Posts:

  • African-Startups
    African Startups That Have Raised Money This Year
  • Edtech Giant Byju’s Raises New Funding Of $250 Million
    Edtech Giant Byju’s Raises New Funding Of $250 Million
  • Blnk
    Blnk, An Egyptian Fintech Startup Providing Customer…
  • Global Healthtech Funding Drops To $3.4bn In Q2 As Number Of Deals Dip For The Sixth Consecutive Quarter
    Global Healthtech Funding Drops To $3.4bn In Q2 As…
  • Jetstream-Africa
    Ghana's Logistics Startup Jetstream Secures $13…
  • Lagos-based B2B E-commerce Platform Omnibiz Secures $15 Million Funding In Pre-Series A Round
    Lagos-based B2B E-commerce Platform Omnibiz Secures…
  • startup-growth
    African Startups Raise $289 million in January Alone
  • power bank 2
    Egyptian Food And Grocery B2B e-Commerce Startup…

Discover more from TechBooky

Subscribe to get the latest posts sent to your email.

Ibhadojemu Emmanuel

Ibhadojemu Emmanuel

Ibhadojemu Lucky Emmanuel is a graduate of Education and Economics from the University of Benin. He has a passion for tech and business and has been writing professionally for over a period of five years. He's written across various topics and segments and knew tech-business was it when he first stumbled on it. He has a great passion for music and arts, and wants to visit as many countries as he can someday.

BROWSE BY CATEGORIES

Select Category

    Receive top tech news directly in your inbox

    subscription from
    Loading

    Freshly Squeezed

    • Airtel Responds to Widespread Downtime August 18, 2025
    • Investors Demand Results From AI Stocks August 18, 2025
    • Harvard Investigates Potential Alien Object Approaching Earth August 18, 2025
    • Bluesky Updates Policies & Moderation Rules August 17, 2025
    • ChatGPT Mobile App Hits $2B Revenue, $2.91 Per Install August 16, 2025
    • Accenture Buys Cybersecurity Firm CyberCX for Over $1 Billion August 16, 2025

    Browse Archives

    August 2025
    MTWTFSS
     123
    45678910
    11121314151617
    18192021222324
    25262728293031
    « Jul    

    Quick Links

    • About TechBooky
    • Advertise Here
    • Contact us
    • Submit Article
    • Privacy Policy
    Generic selectors
    Exact matches only
    Search in title
    Search in content
    Post Type Selectors
    Search in posts
    Search in pages
    • African
    • Artificial Intelligence
    • Gadgets
    • Metaverse
    • Tips
    • About TechBooky
    • Advertise Here
    • Submit Article
    • Contact us

    © 2025 Designed By TechBooky Elite

    Discover more from TechBooky

    Subscribe now to keep reading and get access to the full archive.

    Continue reading

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.