SumUp Payments is soliciting bank pitches for Europe listing, pivoting from earlier plans for an IPO in US, according to a report by Bloomberg.
The company is working with STJ Advisors on preparations for the potential IPO.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Locations including London, Amsterdam, and Frankfurt are under consideration, the news agency said citing unnamed sources.
The shift toward a European listing follows recommendations from firms advising SumUp. As per people privy to the development, the advisers largely pressed for a European venue given the payment company’s proportion of sales in the US.
The potential IPO could value SumUp at $10bn or more, though no timeline has been set. In 2023, the company was valued at $8.5bn in a funding round.
However, the sources also stressed that deliberations are underway, with no final decision being taken so far.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThere was no official comment on the matter by SumUp and STJ representatives.
Founded in 2012, SumUp develops payment technology for small and medium-sized businesses, enabling them to accept card and digital payments.
Its ecosystem includes card readers, POS systems, invoicing, business accounts, and payment acceptance tools across both physical as well as digital channels.
The company supports more than 4 million merchants.
Notably in 2024, it raised €1.5bn ($1.7bn) from private credit lenders in a round led by Goldman Sachs, with the funds used for refinancing existing debt and seizing global growth opportunities.
In addition to Goldman Sachs, SumUp is also backed by Sixth Street, Bain Capital Credit, BlackRock, Temasek, Oaktree Capital Management, and Apollo Global Management.
