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SumUp raises $624M at $8.5B valuation, with its payments and business tech now used by 4M SMBs

TechCrunch LogoTechCrunch1 mo ago

SumUp raises $624M at $8.5B valuation, with its payments and business tech now used by 4M SMBs

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A decade ago, SumUp was one of the army of fintechs that made names for themselves with dongles that turned basic smartphones into card payment terminals.

SumUp has raised some €1.5 billion over the last ten years, but most of that has been in debt (including a €750 million debt round last year).

Marc-Alexander Christ, SumUp co-founder and CFO, said in an interview that in fact before this round less than €100 million of that figure was equity, meaning dilution is relatively low despite those high numbers, and there has been little in the way of transparency on the company’s valuation.


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Article Details

Author / Journalist: Ingrid Lunden

Category: Technology

Topics: Business services Payment solutions Centerbridge BlackRock Sumup Europe Army London Tiller Maryland Peru Money Articles Rocket Internet Smartphones Online payments PayPal Finance

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-23, 07:05:04

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Reading Time: 5 minutes read

Article Length: 823 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 5566

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