SumUp’s €590 Million Capital Raising

In UK Kirkland & Ellis, Weil, Gotshal & Manges, advised on the matter.

Kirkland & Ellis advised Bain Capital Tech Opportunities with a team including Jacob Traff (Corporate M&A), Colin Sharpsmith (Finance), John Patten (IP&IT), Alan Walker (Tax M&A and Deal Advisory).

Weil, Gotshal & Manges advised SumUp LTD with a team including James Harvey (Corporate M&A), Tom Richards (Picture – Finance).

Financial technology solutions provider SumUp executed its raising of €590 million ($624 million), which values the company at €8 billion.

A combination of debt and equity, the financing was led by Bain Capital and BlackRock, with participation from btov Partners, Centerbridge, Crestline, Fin Capital and Sentinel Dome Partners, among others.

This latest round brings SumUp’s total capital raised to €1.5 billion, following a substantial debt financing round in March 2021 led by Goldman Sachs, Temasek, Bain Capital Credit, Crestline and Oaktree.

Fintech startup SumUp was founded a decade ago and, through rapid expansion, now has 3,000 staff supporting merchants in 35 countries. SumUp will use these funds to accelerate the development of vital and fair financial services and tools to empower small businesses all over the world.

The Weil team was led by Banking & Finance partner Tom Richards (Picture) and Corporate partner James Harvey, assisted by Banking & Finance associates Edward Hyde and Elena Dagley, and Corporate Counsel Tomasz Rodzoch and associates Tiffany Shum and Dominika Javornicka.

The Kirkland team was led by corporate partner Jacob Traff and included associates Nick Appleton, Chris Weale and Steven Hunter, tax partner Alan Walker, technology & IP transactions partner John Patten, financial services regulatory partner Colin Sharpsmith, antitrust partner Carla Hine, and capital markets partner Michael Kim.

Involved fees earner: Nick Appleton – Kirkland & Ellis; Carla Hine – Kirkland & Ellis; Steven Hunter – Kirkland & Ellis; Michael Kim – Kirkland & Ellis; John Patten – Kirkland & Ellis; Colin Sharpsmith – Kirkland & Ellis; Jacob Traff – Kirkland & Ellis; Alan Walker – Kirkland & Ellis; Christopher Weale – Kirkland & Ellis; Elena Dagley – Weil, Gotshal & Manges; James Harvey – Weil, Gotshal & Manges; Edward Hyde – Weil, Gotshal & Manges; Dominika Javornicka – Weil, Gotshal & Manges; Tom Richards – Weil, Gotshal & Manges; Tomasz Rodzoch – Weil, Gotshal & Manges; Tiffany Shum – Weil, Gotshal & Manges;

Law Firms: Kirkland & Ellis; Weil, Gotshal & Manges;

Clients: Bain Capital Tech Opportunities; SumUp LTD;

Author: Giulia Di Palma