19 January 2018
visit http://response.ncr.com

SumUp announces new €10 million funding

27 August 2015  |  3185 views  |  0 Source: SumUp

SumUp, Europe’s leading mPOS company, today announced a new €10 million injection by investors including BBVA Ventures and Groupon.

American Express and other current investors also participated in the funding round. This takes SumUp’s funding so far to a total of €50 million, and follows the recent investment by Swiss venture capital firm Venture Incubator AG.

SumUp plans to use this investment in 3 ways:

- to expand into new markets. SumUp plans to launch in 2 more countries this year, increasing its’ country footprint to 15 and covering three continents.
- to enhance SumUp’s technology leadership position by rolling out the new contactless generation of its end-to-end payment platform. This encompasses a proprietary and certified payments gateway as well as in-house hardware and operations systems.
- to support the development of new services.

Daniel Klein, CEO of SumUp, said: "We are delighted to have received 2 major investments within less than 2 months. With strong partners such as BBVA Ventures, Groupon and American Express, we are now better equipped than ever to execute on our vision of empowering small businesses all over the world by radically simplifying payments. We can’t wait to offer our solution to even more merchants soon by launching the in new markets later this year.”

Jay Reinemann, Executive Director, BBVA Ventures, adds: “We’re pleased to offer further support to SumUp, who are shaking up mobile payments and creating opportunities for both merchants and customers. They fit the profile of businesses BBVA Ventures wants to invest in and learn from - those disrupting the mainstream for the benefit of the consumer.”

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.capgemini.comvisit www.thomsonreuters.infovisit www.niceactimize.com

Top topics

Most viewed Most shared
Europe begins Open Banking era in subdued styleEurope begins Open Banking era in subdued...
11687 views comments | 33 tweets | 38 linkedin
BofA leads on blockchain patentsBofA leads on blockchain patents
7106 views comments | 11 tweets | 12 linkedin
Standard Chartered establishes fintech innovation and investment unitStandard Chartered establishes fintech inn...
6589 views comments | 14 tweets | 14 linkedin
hands typing furiouslyFintech Adoption is About People, Not Tech
6306 views 1 | 6 tweets | 2 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job