Global FinTech SumUp has raised €285 million in funding.

The company provides in-person and remote payment acceptance solutions which can be integrated with its card terminals and point-of-sale registers, while its app also enables merchants to set up a free business account and card, an online store, and roll out invoicing technology.

SumUp, which was launched in 2012, says that it will use the investment to expand its global presence.

The FinTech currently serves over four million merchants across 36 markets, after having most recently launched in Australia.

The company said the funding comes after a year of “accelerating momentum” for the business, which has been operating on a positive EBITDA basis since the fourth quarter of 2022. It has also experienced over 30 per cent top-line growth year over year.

"The consistent growth SumUp has shown over the past eleven years is a direct result of the success of the merchants we serve, and it would not be possible without the unwavering trust and support of the investor community. We are excited to have Sixth Street join that community," said Hermione McKee, chief financial officer, SumUp. "This funding gives us additional firepower to pursue growth opportunities and accelerate products that empower small businesses.”

The move comes after SumUp secured $100 million funding for a merchant cash advance product in the UK.

SumUp expanded its product and service suite for small merchants with the launch of a cash advance partnership with VPC in the UK, as well as Tap to Pay on iPhone in the UK, France and the Netherlands, and SumUp One, a membership plan that bundles its most popular features for one fixed, discounted price.

The company also announced a funding round of €590 million last year.

SumUp's most recent funding was led by Sixth Street Growth with further participation by Bain Capital Tech Opportunities, Fin Capital, and Liquidity Group.

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