Funding round
SumUp Growth
Reported as "Growth Equity"
SumUp, which works in card payment processing services in Wilmington, raised $624M in a Growth round announced on 23 Jun 2022, led by Bain Capital Tech Opportunities, at a $8.50B post-money valuation. 7 firms took part. It is SumUp's second venture round on record; the one before was a Series A in Aug 2012.
$624M
Amount raised
of which $312M debt
$8.50B
Post-money valuation
$7.88B pre-money
7
Investors
1 lead
3.7%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced SumUp at $8.50B after the new money. The $624M bought investors about 3.7% of the company. It came 118 months after SumUp's Series A. It is 66% of the $951M SumUp has raised in the venture rounds on record. SumUp raised again 23 months later: a Growth round of $307M in May 2024.
SumUp's funding rounds
SumUp has 3 venture rounds on record and 3 other deals. This one is highlighted.
- Series A 23 Aug 2012 $20M
- Debt not a venture round 1 Mar 2021 $894M
- Growth this round 23 Jun 2022, led by Bain Capital Tech Opportunities $624M$8.50B post-money
- Debt not a venture round 9 Aug 2023, led by Victory Park Capital $100M
- Growth 22 May 2024, led by Sixth Street $307M
- Debt not a venture round 29 May 2024, led by Goldman Sachs Asset Management $1.63B
Investors
Who put money in
Bain Capital Tech Opportunities led the round with 6 other firms.
Lead investor
- Bain Capital Tech Opportunities new investor
Also in the round
- BlackRock new investor
- backs 86 venture-backed companies new investor
- backs 11 venture-backed companies new investor
- backs 9 venture-backed companies new investor
- backs 49 venture-backed companies new investor
- Sentinel Dome Partners new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations, acquisitions and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
42 Growth rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $98M, and this round was 6.4 times the median. The closest in time, other companies' Growth rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 16 Jun 2022 | $110M | $1.50B | not named |
| Payment Processing & Point of Sale | 1 Jun 2022 | $37M | not disclosed | Mastercard |
| Payment Processing & Point of Sale | 23 Jun 2022 | undisclosed | not disclosed | not named |
| Payment Processing & Point of Sale | 1 Jul 2022 | $178M | not disclosed | Lazada |
| Payment Processing & Point of Sale | 12 May 2022 | $173M | $1.00B | Andreessen Horowitz and Paradigm |
| Payment Processing & Point of Sale | 13 May 2022 | $100M | not disclosed | Accel and Lightrock |
| Payment Processing & Point of Sale | 23 May 2022 | $70M | $1.00B | Railpen |
| Payment Processing & Point of Sale | 11 May 2022 | $23M | not disclosed | SVB Financial Group and Piper Sandler |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did SumUp raise in its Growth round?
SumUp raised $624M in its Growth round, announced in Jun 2022.
Who led SumUp's Growth round?
Bain Capital Tech Opportunities led it, with BlackRock, b2venture, Centerbridge Partners, Crestline Investors and Fin Capital and 1 more.
What was SumUp's valuation at the Growth round?
$8.50B post-money ($7.88B pre-money).
How does it compare with other Growth rounds in Payment Processing & Point of Sale?
42 Growth rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $98M, and this round was 6.4 times the median.
Did SumUp raise again after this round?
Yes: a Growth round in May 2024 of $307M.