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SumUp fundraising gives UK start-up €8bn valuation

Financial Times LogoFinancial Times1w ago

SumUp fundraising gives UK start-up €8bn valuation

Quick Summary

SumUp, which was founded in 2012, works with 4mn small businesses globally, providing merchants with a business account and card, as well as invoicing tools and other payment services.

I don’t think the price will ever be any lower than that.“I wasn’t really involved in the $22bn valuation . . .the market was overheated [and] there were all sorts of rumours at the time,” he said.“Someone looked at public numbers and guessed at what could be.

SumUp is far from the only payments company affected by investors souring on what were until recently some of the world’s most highly valued technology companies.


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Article Details

Author / Journalist: Emma Dunkley

Category: MarketsFinanceInvesting

Topics: Raised Investors Valued Company Christ Year Valuation Sumup

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-23, 07:00:21

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Reading Time: 5 minutes read

Article Length: 757 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 5562

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About Financial Times

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Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 12 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 11h ago

Coverage Areas: United States

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Publication Timezone: GMT -5:00

News Language: English

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Publisher ID: #3

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