European fintech scale-up SumUp secures €330 million loan to finance growth
London-based SumUp, a payments technology startup, has secured a €330 million loan, backed by Bain Capital Credit, Goldman Sachs Private Capital and others to support its expansion plans (via Bloomberg).
The scale-up says it will use the financing to further develop its range of products (also potentially through acquisitions) and to grow its currently 1.5 million users-strong customer base in the markets it’s already active in.
“This cash injection will significantly accelerate the growth of our customer base, enhance SumUp’s technology leadership position, and drive the development of new services,”
Marc-Alexander Christ, co-founder of SumUp, told Bloomberg.