FT Partners Advises SumUp on its Financing
Overview of Transaction
- On May 28, 2013, SumUp announced a double-digit million Euro financing with participation from Groupon (NasdaqGS: GRPN) and American Express (NYSE: AXP)
- On July 9, 2013, SumUp announced the expansion of the Series B round with investment from BBVA (NYSE: BBVA)
- Existing investors also participated in the round
- SumUp is an international provider of mobile payments acceptance solutions for smartphone and tablet users
- Groupon is a leading daily deals marketplace that connects merchants to consumers, with an international presence in 47 countries
- American Express is a leading global card scheme
- BBVA is a multinational group providing financial services in over 30 countries and to 53 million customers throughout the world
- The investment further validates SumUp's offering and the increasing importance of mobile payments globally
- Provides SumUp with additional capital to support continued expansion into new territories and strengthen its technological leadership position
- Capital will allow SumUp to further build out its end-to-end payment solution, which encompasses a proprietary and certified payments gateway as well as proprietary hardware and operations systems
- Funds will also be used to support the development of new services, which will further revolutionize the point of sale and build an ecosystem that connects merchants and consumers
- FT Partners served as the exclusive strategic and financial advisor to SumUp and its investors
- FT Partners leveraged its deep industry expertise to provide critical advisory services throughout the transaction
- Underscores FT Partners' continued success in advising a broad range of top-tier Payments companies