Funding round
SumUp Growth
Reported as "Growth Equity"
SumUp, which works in card payment processing services in Wilmington, raised $307M in a Growth round announced on 22 May 2024, led by Sixth Street. 4 firms took part. It is SumUp's third venture round on record; the one before was a Growth in Jun 2022.
$307M
Amount raised
Not disclosed
Post-money valuation
4
Investors
1 lead
Valuation
What this round says about the price
SumUp did not disclose a valuation in this round; its last disclosed one was $8.50B at the Growth (Jun 2022). It came 23 months after SumUp's Growth. It is 32% of the $951M SumUp has raised in the venture rounds on record. No later venture round is on record for SumUp.
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 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 this round 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
Sixth Street led the round with 3 other firms.
Lead investor
- Sixth Street backs 34 venture-backed companies new investor
Also in the round
- Bain Capital Tech Opportunities new investor
- backs 49 venture-backed companies new investor
- Liquidity Group 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 and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
28 Growth rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $76M, and this round was 4.0 times the median. The closest in time, other companies' Growth rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Bridge Payment Processing & Point of Sale | 22 May 2024 | $58M | not disclosed | Sequoia Capital |
| Payment Processing & Point of Sale | 1 Jun 2024 | $125M | not disclosed | Summit Partners |
| PPRO Payment Processing & Point of Sale | 13 Mar 2024 | $93M | not disclosed | not named |
| Addi Payment Processing & Point of Sale | 24 Mar 2024 | $36M | not disclosed | Andreessen Horowitz and Union Square Ventures |
| Payment Processing & Point of Sale | 27 Feb 2024 | $20M | not disclosed | Alpha Wave Global |
| Bilt Rewards Payment Processing & Point of Sale | 24 Jan 2024 | $200M | $3.10B | General Catalyst |
| Aspire Payment Processing & Point of Sale | 29 Jan 2024 | $79M | not disclosed | not named |
| Payment Processing & Point of Sale | 12 Sep 2024 | $38M | not disclosed | Distributed Global |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did SumUp raise in its Growth round?
SumUp raised $307M in its Growth round, announced in May 2024.
Who led SumUp's Growth round?
Sixth Street led it, with Bain Capital Tech Opportunities, Fin Capital and Liquidity Group.
What was SumUp's valuation at the Growth round?
It was not disclosed; its last disclosed one was $8.50B at the Growth (Jun 2022).
How does it compare with other Growth rounds in Payment Processing & Point of Sale?
28 Growth rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $76M, and this round was 4.0 times the median.