SumUp secures record €1.5bn in one of Europe’s largest private credit deals

SumUp secures record €1.5bn in one of Europe's largest private credit deals

SumUp, a leading global FinTech company, recently raised €1.5bn from private credit lenders in a significant funding round led by Goldman Sachs. This transaction marks one of the largest European private credit deals in recent years.

The company will use the €1.5bn to refinance existing debt and capitalize on global growth opportunities. The round drew considerable interest and was ultimately oversubscribed, indicating strong market confidence in SumUp’s robust financial foundations and promising future.

SumUp operates a successful business model that has maintained positive EBITDA since December 2022. Over more than a decade, the company has demonstrated sustained growth and financial health, making it an attractive investment for new and existing backers.

The diverse group of new investors includes AllianceBernstein, Apollo Global Management, Arini, Deutsche Bank AG, Fortress Investment Group, SilverRock Financial Services, and Vista Credit Partners. They join long-standing supporters such as Funds managed by BlackRock, Crestline Investors, Liquidity Capital, Oaktree Capital Management, Sentinel Dome, and Temasek.

SumUp CFO Hermione McKee commented, “SumUp has always enjoyed solid and steady support from the investor community, and it’s this continued backing which has enabled us to grow sustainably over the past 10+ years, serving millions of merchants of all sizes globally. As the company scales further and our services and products continue to expand, our requirements from capital markets have evolved.

“Lenders understand and support our mission to create a world where everyone can build a thriving business, and recognise our successful methods of achieving, sustaining, and balancing profitability and growth. This new financing will support us as we focus on providing best-in-class support experiences for our merchants and giving them the products and tools they need to succeed.”

In addition to managing its finances effectively, SumUp has a proven track record of launching new markets and products while maintaining financial stability. This strategic funding positions the company to explore and exploit both organic and inorganic growth opportunities in the future.

Legal advice for the fundraising was provided by Freshfields Bruckhaus Deringer LLP.

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