SumUp eyes $20bn valuation with $500m funding round
London-based payments fintech SumUp is eyeing up a $22bn valuation in a new funding round, according to reports.
The firm is looking to raise more than $500m in a round which would make it one of the UK’s most valuable startups, according to Bloomberg.
The raise follows a €750m round in March 2021 from backers including Goldman Sachs, Temasek and Bain Capital Credit, which the firm said it would use to fuel a global expansion and drive a string of acquisitions.
In october the firm snapped up American marketing and payments network Fivestars for $317 million in a mix of cash and stock, which it said would allow it to make sure its “presence is as strong in the U.S. as it is in Europe.”