No, you did not wake up back in 2021 but there is news this morning of a €285 Million (over $300m) fintech funding round.
Germany-founded but London-based SumUp has closed the massive funding round that is “mostly equity” which tempers our initial enthusiasm somewhat. But even a nine-figure equity round is enough to make the news these days.
No news on valuation other than it is higher than the $8.5 billion valuation SumUp achieved in 2022.
SumUp is a payments fintech focused on small businesses with four million small business customers in Europe, the Americas and Australia. They own the Fivestars loyalty app popular in this country and compete directly with PayPal and Square in many geographies.
Now 11 years old SumUp is one of the largest privately held payments startups in Europe. Even if we don’t know the full details of the funding round hats off to them for an up-round and large equity infusion.
Featured
SumUp taps €285M more in growth funding to weather the fintech storm
By Ingrid Lunden
SumUp — the fintech that provides payments and related services to some 4 million small businesses in Europe, the Americas and Australia — has picked up
From Fintech Nexus
> Fintech: Canopy expands into commercial lending, fintech lending projected to hit $5T by 2030.
By Laurence Smith
Canopy will service over $1B in loans this year.
Podcast
Hi Fintech Architects, Welcome back to our podcast series! For those that want to subscribe in your app of choice, you can…
> Listen Now
Webinar
Payments Innovation is Hot: What to Expect in 2024
Dec 14, 12pm EST
Global payments revenue grew double digits in 2023 – wondering what the near future of the burgeoning payments space might… Learn More
Also Making News
- Global: The Power Vacuum at the Top of the Crypto Industry
A year ago, Sam Bankman-Fried and Changpeng Zhao ran two of the largest crypto companies. As they grapple with legal woes, others are jockeying to lead the industry’s next chapter. - USA: Check fraud on pace for another record year: Fincen data
An increase in paper mail theft corresponds with a rise in physically altered checks that redirect funds to fraudsters. - USA: Fintech Bridge expands borrower network with Chipotle deal
The Citi spinout aims to help the restaurant chain’s suppliers scale and grow their businesses by linking them to the more than 75 lenders that use Bridge’s platform. - Global: A Spot Bitcoin ETF Is Easy. What Comes Next Could Get Dangerous.
The crypto rally has broadened beyond bitcoin, but a flood of institutional money into markets like ether could come with unexpected risks. - USA: Nearly 40% of Credit Unions Say No to Installment Loans
A significant share of credit unions are hesitant to offer sought-after products like installment loans, putting them at a disadvantage. - Global: The Biggest Banking And Financial Services Trends For 2024
2024 promises to be a landmark year in banking and finance, marked by significant changes and transformations. - USA: US payments trends seen gaining ground in 2024
As we stand on the cusp of the new year, a mere four weeks away, we delve into the upcoming payment themes expected to take center stage in 2024.
To sponsor our newsletters and reach 220,000 fintech enthusiasts with your message, contact us here.