Fintech startup Sumup, led by German entrepreneurs, aims to go public, potentially valuing the company at a staggering 15 billion dollars.
SumUp Plans for IPO Next Year, Aiming for a Valuation of $10-$15 Billion
Financial news outlet, the Financial Times, has reported that SumUp, a leading fintech company known for its contactless and online payment solutions, is planning to go public next year. The company is considering listings in London or New York, with a valuation range of $10 to $15 billion.
SumUp, which offers apps and online tools for small businesses, retail, and hospitality, is one of Europe's most valuable fintech companies. Founded by Jan Deepen, Marc-Alexander Christ, and Stefan Jeschonnek, the company has raised around €1.5 billion through multiple equity and debt rounds since its inception.
In its last funding round in 2023, SumUp raised €285 million, with Bain Capital Tech Opportunities and other investors, such as Fin Capital and Liquidity Capital, participating. The company, however, declined to comment on the IPO plans to the Financial Times.
In July, co-founder Marc-Alexander Christ mentioned an IPO in 2025 was unlikely. However, recent developments suggest a change in plans. The Financial Times cited two sources close to the company, implying a shift in SumUp's strategy.
SumUp's last known valuation, from 2022, was €8 billion. The current valuation range of $10 to $15 billion is based on the company's IPO plans for next year. It's worth noting that the company claims to have been profitable since late 2022, but no specific details about the market conditions were provided in the current paragraph.
The news of SumUp's IPO plans comes at a time when the fintech industry is experiencing significant growth, with many companies opting for public listings to raise capital and increase their visibility. Whether SumUp's IPO will be successful remains to be seen, but one thing is certain: the company's move towards going public is an exciting development for the fintech industry and for SumUp's users and investors alike.
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