SumUp, a rival to Jack Dorsey's Block, defies fintech funding slump with $307 million cash injection
Publishing timestamp: 2023-12-11 01:00:02
Summary
British payments startup SumUp has raised 285 million euros in investment, led by Sixth Street Growth and Bain Capital Tech Opportunities. The funding will be used for acquisitions, new country launches, and expansion into new lines of business. The company's valuation is now over $8.6 billion. SumUp plans to explore merger and acquisition opportunities and has no immediate plans to go public.
Sentiment: NEUTRAL
Tickers: ADYEN-NL, SQ, PYPL, FIS,
Keywords: paypal holdings inc, technology, block inc, venture capital, breaking news: markets, breaking news: technology, adyen nv, internet, fintech, business news, markets, fidelity national information services inc,
Source: https://www.cnbc.com/2023/12/11/sumup-defies-fintech-funding-slump-with-307-million-fundraise.html