Bills company SumUp raises 590 mln euros in newest investment spherical

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SumUp, a Ecu cell point-of-sale (mPOS) corporate, shows at the showcase corridor flooring all the way through the Cash 20/20 convention in Las Vegas, Nevada, U.S. on October 24, 2017. REUTERS/Steve Marcus

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BERLIN, June 23 (Reuters) – London-based bills company SumUp mentioned on Thursday it raised 590 million euros ($623 million) in its newest investment spherical, giving it an general endeavor price of 8 billion euros.

The most recent spherical, which concerned a mix of fairness and debt, brings the entire quantity of capital raised to one.5 billion euros, mentioned SumUp, which counts U.S.-based Block’s (SQ.N) Sq. and PayPal’s (PYPL.O) Zettle amongst competition and is energetic in 35 nations.

“The price range we now have raised will allow us to proceed to construct out our product ecosystem, enlarge into new markets, pursue value-adding acquisitions,” mentioned co-founder Marc-Alexander Christ in a observation.

BlackRock (BLK.N), Centerbridge and Crestline have been a few of the members within the investment spherical led by way of Bain Capital Tech Alternatives.

($1 = 0.9465 euros)

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Reporting by way of Miranda Murray; Enhancing by way of Kenneth Maxwell

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