UK funds group SumUp says it’s no hurry to go public because it surpasses one billion transactions per yr.
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SumUp’s enterprise has advanced from a concentrate on funds to include enterprise accounts, playing cards, and software program for 4 million small retailers in 36 markets.
The corporate says the diversification into banking is offering a robust basis for continued development because it now claims over a million clients for its SumUp Enterprise Account, signifying multi-product adoption throughout its suite of service provider providers.
The agency, which final raised €285 million in December final yr, has ofteen been quoted as a possible IPO candidate, however maintains it nonetheless has room for growth as a non-public firm.
In a statementt, the corporate remarks: “Though SumUp is commonly mentioned within the context of a possible IPO, the corporate emphasises that an preliminary public providing will not be thought of within the quick time period. Whereas an IPO stays a risk, the corporate is in no hurry, assured that its development and profitability may be achieved on its present trajectory.”
Rumours abound that the agency is planning an worker share sale to traders that may worth the enterprise at extra thanits present valuation of €8 billion.
It could be the newest UK fintech to pursue a share sale after Revolut, which secured a $45 billion valuation in a share sale in August.
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