London Based Fintech Start-Up Raises 330 Million-Euro Backed By Goldman Sachs & Others

By John Heerdink LinkedIn

A six-year-old London based electronic payments startup, SumUp Inc. secured a 330 million-euro ($371 million) loan backed by Goldman Sachs Private Capital, Bain Capital Credit, and others to meet its expansion goals.

“This cash injection will significantly accelerate the growth of our customer base, enhance SumUp’s technology leadership position, and drive the development of new services,” stated Marc-Alexander Christ, co-founder of SumUp.

The start-up plans to boost its customer base and help businesses of different sizes to receive payments faster, both in-store and online. Currently, SumUp has more than 1.5 million active users including DHL Worldwide Express and the U.K.’s black-cab drivers. The company expects to maintain its 120% year-on-year growth target in 2019 with raising more than 200 million euros in revenue this year.

Goldman Sachs International represented as the lead structuring agent with Barclays Bank PLC as structuring agent and Weil, Gotshal & Manges represented SumUp as its legal adviser.

The Goldman Sachs Group, Inc. (GS) is one of the world’s leading investment bankers & also a securities and investment management firm that offers a wide range of financial services with a diversified client base. To learn more about The Goldman Sachs Group, Inc. (GS) and to continue to track its progress please visit the Vista Partners Goldman Sachs Group, Inc. Coverage Page.

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Goldman, Bain Back $371 Million Loan to U.K. Fintech Startup

(Bloomberg) — SumUp Inc., a six-year-old electronic payments startup, secured a 330 million-euro ($371 million) loan, backed by Bain Capital Credit, Goldman Sachs Private Capital and others to fuel its expansion.The London-based company plans to boost its customer base across 31 markets and develop..

finance.yahoo.com

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