# SumUp Payments

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/sumup-payments

- Industry: Financial Services
- Headquarters: London, UK
- Website: www.sumup.com
- Total disclosed funding: $20M
- Latest round: Series C (Aug 15, 2014)
- Investors on record: 8

## About

Founded in 2011 and based in London, UK, SumUp Payments Limited is a global financial technology company and a mobile point-of-sale (mPOS) company. Since its launch, SumUp has earned global reach and expanded into 31 countries, including Germany, the U.S., and Brazil. In May 2024, SumUp Payments Limited raised EUR 1.5 billion in venture debt funding led by returning investor Goldman Sachs Asset Management, with participation from other new investors AllianceBernstein, Apollo Global Management, Arini Capital, Deutsche Bank, Fortress Investment Group, SilverRock Financial Services, and Vista Credit Partners. Returning investors BlackRock, Crestline Investors, Liquidity Capital, Oaktree Capital Management, Sentinel Dome Partners, and Temasek Holdings also participated in the round.
 
The company enables businesses to accept card payments at the Point-of-Sale or on the go in a simple, secure, and cost-effective way. SumUp Payments Limited operates as a provider of a mobile card reader that connects with a mobile device, reads debit and credit cards, and processes transactions. The company also offers an end-to-end EMV card acceptance solution built on proprietary hardware and mobile apps. The company has gone on to develop a full suite of SDKs and APIs for third parties to integrate card payments into their mobile apps. 

The company generates revenue by maintaining a pricing model (9$/29$ for devices) and commission fee (2.75% of each transaction).

SumUp Payments Limited plans to use its May 2024 funding to restructure current liabilities and capitalize on global development prospects.

## Funding rounds

- Series C, Aug 15, 2014 — Groupon Inc., Life.SREDA, Propel
- Series B, May 28, 2013 — American Express, Groupon Inc., b2venture, Shortcut Ventures, Propel, Tengelmann Ventures Management
- Series A, Aug 23, 2012, $20M — TA Ventures, b2venture, Shortcut Ventures, Tengelmann Ventures Management

## Investors

- TA Ventures (https://capitalatlas.ai/funds/ta-ventures) — Series A
- b2venture (https://capitalatlas.ai/funds/b2venture) — Series A, Series B
- Shortcut Ventures (https://capitalatlas.ai/funds/shortcut-ventures) — Series A, Series B
- Tengelmann Ventures Management (https://capitalatlas.ai/funds/tengelmann-ventures-management) — Series A, Series B
- American Express — Series B
- Groupon Inc. — Series B, Series C
- Propel (https://capitalatlas.ai/funds/propel) — Series B, Series C
- Life.SREDA (https://capitalatlas.ai/funds/life-sreda) — Series C