TechFlow news — According to TechCrunch, payment company SumUp has announced a $624 million funding round at an $8.5 billion valuation. The round was led by Bain Capital Tech Opportunities, with participation from BlackRock, btov Partners, Centerbridge, Crestline, Fin Capital, and Sentinel Dome Partners.
SumUp positions itself as an integrated financial technology service provider for small and medium-sized businesses. Square, a company operating in the same space, has since transformed into a cryptocurrency-focused payment firm. Although SumUp previously supported Bitcoin payments, it later announced on its official website that it would no longer accept BTC due to low customer adoption rates.
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