Goldman Sachs, Bain Back €330 Million Loan to SumUp Inc.
Bain Capital Credit, Goldman Sachs Private Capital, and others secured a €330 million loan to SumUp Inc. to fuel its expansion.
The startup makes credit-card readers help businesses of all size receive payment faster, both in-store and online, and is working to improve contactless payments.
“This cash injection will significantly accelerate the growth of our customer base, enhance SumUp’s technology leadership position, and drive the development of new services,” said Marc-Alexander Christ, co-founder of SumUp.
More than 4000 new business join every day and it expects to generate more than 200 million euros in revenue this year.
Goldman Sachs International acted as lead structuring agent, Barclays Bank PLC as structuring agent, and Weil, Gotshal & Manges acted as legal adviser to SumUp on the financing. HPS Investment Partners and TPG Sixth Street Partners also participated in the loan, which has a five-year term, the company said.
Source: Bloomberg
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