German founders want to go public with their fintech Sumup – valuation up to 15 billion
The British fintech company founded by German investors has been considered an IPO candidate for some time. It could be listed next year. Which stock exchange will Sumup choose?
The British-German fintech Sumup is apparently planning an IPO next year – at a targeted valuation of ten to 15 billion US dollars. This is reported by the Financial Times , citing two people familiar with the company. According to the report, Sumup plans to go public in either London or New York. Sumup itself declined to comment to the FT.
Sumup was already considered a hot IPO candidate this year. However, in July, co-founder Marc-Alexander Christ, in a conversation with Capital, rejected an IPO in 2025. Christ stated that they wanted to "wait until the stock market conditions are somewhat more favorable again."
The fintech's last known funding round took place in 2023. At that time, Sumup raised €285 million. The round was led by the California-based growth investment firm Sixth Street Growth, with participation from Bain Capital Tech Opportunities, Fin Capital, and Liquidity Capital.
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The fintech has received a total of approximately €1.5 billion in financing since its founding, consisting of several equity and debt rounds. The last known valuation dates back to 2022. At that time, Sumup raised €590 million and was valued at €8 billion as part of the financing. According to the company, it has been profitable since the end of 2022. Sumup is one of the most valuable fintechs in Europe.
Sumup was founded in London in 2012 by five Germans, including Jan Deepen, Marc-Alexander Christ , and Stefan Jeschonnek. The fintech is primarily known for its card readers, which are frequently used in small businesses, i.e., retail and restaurants. Sumup now also offers apps and online tools that enable contactless and online card payments. Its business model is primarily based on transaction fees, supplemented by the sale of hardware and software services to simplify payment processes and digitize financial workflows.
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