All payments made with mobile devices like smartphones or tablets are described as mobile payments. With technology advancement, these smooth payments have become more improved, facilitating how people transfer money and its picking up really fast in the UK.
London-based global payments service provider, SumUp has been using this opportunity to the fullest and has shown fast growth in the recent year. Now the mobile payments firm has secured a huge €750 million (nearly £642 million) funding. The oversubscribed round was led by Goldman Sachs, Temasek, Bain Capital Credit, Crestline, and funds managed by Oaktree Capital Management, L.P..
SumUp stated that the fresh investment will be used to accelerate its growth and continue to acquire and support its existing merchants in 33 global markets. It will also be used to continue expanding SumUp’s product suite, both organically and through acquisitions (M&A) and for refinancing existing debt facilities....