SumUp Secures Impressive €285 Million Funding Amid Fintech Slump
British payments startup SumUp has raised €285 million ($306.6 million) in a funding round led by Sixth Street Growth, valuing the company at over $8.6 billion. The fresh capital will be used for acquisitions, new country launches, and further expansion into regions such as Latin America, Asia, and Africa. SumUp, which competes with Jack Dorsey's Block and other payment companies, has been diversifying its offerings with lending services and new point-of-sale systems. The company also plans to explore merger and acquisition opportunities. SumUp has no immediate plans for an IPO, as it has ample access to private capital.
