BERLIN Digital payments provider SumUp said on Tuesday it had borrowed 750 million euros ($894 million) from backers led by Goldman Sachs to invest in…
SumUp raises $895M in debt to double down on its B2C payments business
SumUp, a London-based startup that helps businesses power revenues through card payments by way of physical readers, online payments, invoices and other services is itself powering up in a big way.
Today it announced financing totalling €750 million (around $895 million at today’s rates), money that it will be using to continue expanding its business specifically, for acquisitions; to launch in new markets in Europe, Latin America and Asia; and to build out the suite of services that it provides to businesses. The company is already active in 33 countries (most recently Chile, Colombia and Romania) and has some 3 million businesses as customers.
Digital payments firm SumUp borrows 750 mln euros to fund growth reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Berlin’s MorphAIs hopes its AI algorithms will put its early-stage VC fund ahead of the pack
MorphAIs is a new VC out of Berlin, aiming to leverage AI algorithms to boost its investment decisions in early-stage startups. But there’s a catch: it hasn’t raised a fund yet.
The firm was founded by Eva-Valérie Gfrerer, who was previously head of growth marketing at fintech startup OptioPay; her background is in behavioural science and advanced information systems.
Gfrerer says she started MorphAIs to be a tech company, using AI to assess venture investments and then selling that as a service. But after a while, she realized the platform could be applied as an in-house fund, hence the drive to now raise a fund.