June 23, 2022
Weil is advising global leading financial technology solutions provider SumUp on raising €590 million ($624 million), which values the company at €8 billion. A combination of debt and equity, the financing was led by Bain Capital and BlackRock, with participation from btov Partners, Centerbridge, Crestline, Fin Capital and Sentinel Dome Partners, among others. This latest round brings SumUp's total capital raised to €1.5 billion, following a substantial debt financing round in March 2021 led by Goldman Sachs, Temasek, Bain Capital Credit, Crestline and Oaktree.
Fintech startup SumUp was founded a decade ago and, through rapid expansion, now has 3,000 staff supporting merchants in 35 countries. SumUp will use these funds to accelerate the development of vital and fair financial services and tools to empower small businesses all over the world.
The Weil team was led by Banking & Finance partner Tom Richards and Corporate partner James Harvey, assisted by Banking & Finance associates Edward Hyde and Elena Dagley, and Corporate Counsel Tomasz Rodzoch and associates Tiffany Shum and Dominika Javornicka.