SumUp, a fintech scaleup founded in 2012 by Daniel Klein, Jan Deepen, Marc-Alexander Christ, Petter Made and Stefan Jeschonnek, active in the digital payments industry and known for its wireless POS, has raised €1.5bn from private lenders in what is one of the largest private credit deals in Europe in recent years. The round was led by Goldman Sachs, joined by AllianceBernstein, Apollo Global Management, Arini, Deutsche Bank AG, Fortress Investment Group, SilverRock Financial Services and Vista Credit Partners. Freshfields Bruckhaus Deringer LLP acted as legal advisor to SumUp in the transaction (see the press release here).
Goldman Sachs had already led the $750m debt round in March 2021, together with Bain Capital Credit, which had been joined by Temasek, Crestline and Oaktree Capital Management (see here a previous article by BeBeez). According to Crunchbase, SumUp has so far collected $ 4 billion from investors including equity and debt. Notably, the last equity rounds date back to December 2023, when the scaleup raised $285 millions from Sixth Street, and June 2022 when Bain Capital Tech Opportunities invested $590 millions; while the last debt round was a $100 millions fundraising in August 2023 provided by Victory Park Capital.
In one of the first rounds, in 2017, members of the U-Start Club had also invested. U-Start Club was then a subsidiary of Angelo Moratti’s investment holding Angel Lab and an club deal investment veichle, later integrated into Milano Investment Partners sgr (see here a previous article by BeBeez), That round was led by BBVA, Groupon and Holtzbrinck Ventures (see here a previous article by BeBeez). “Thanks to the continued support of the investment community, SumUp has been able to grow sustainably and continuously for over 10 years, working globally alongside millions of merchants of all sizes”, Hermione McKee, cfo of SumUp, commented.
