SumUp lining up banks for IPO
Fintech SumUp is reportedly lining up banks for a possible London initial public offering, which would be one of the larger recent fintech listings in the city (bloomberg.com). The reports position SumUp among payments and merchant‑infrastructure players pursuing public markets this year (bloomberg.com).
SumUp is lining up banks for a possible initial public offering in London, putting the payments company back in the public-markets queue after years of private fundraising. (bloomberg.com) Bloomberg reported on April 14 that SumUp is poised to appoint Deutsche Bank, Goldman Sachs, Jefferies and JPMorgan Chase to work on the listing. The company is best known for card readers and checkout tools used by small merchants. (bloomberg.com) SumUp said in its newsroom that it was founded in 2012, now has more than 3,000 employees, serves more than 4 million businesses and operates in 37 markets. Its products now span payments, point-of-sale systems and business accounts with cards. (sumup.com) The listing work comes after SumUp spent much of the past two years raising private capital instead of going public. Reuters reported in October 2024 that the company was planning a secondary share sale that could value it at more than 8 billion euros, or about $8.9 billion at the time. (uk.finance.yahoo.com) That followed a period when fintech valuations had reset sharply. Trade publication The Paypers, citing earlier reporting, said SumUp had raised 590 million euros in 2022 and had once sought a valuation above 20 billion euros before later financing valued it at about 8 billion euros. (thepaypers.com) A London flotation would also test whether the city can attract larger technology listings after a thin start to 2026. Ernst & Young said only two companies listed in London in the first quarter of 2026, raising a combined £12.8 million, after 23 companies raised £2.1 billion across 2025. (ey.com) (proactiveinvestors.com) SumUp is incorporated in London as SumUp Payments Limited, according to Companies House, with accounts last made up to December 31, 2024. That corporate footprint gives London a natural claim on any eventual share sale, even though Bloomberg reported last month that Amsterdam and Frankfurt were also under consideration. (find-and-update.company-information.service.gov.uk) (thepaypers.com) For now, the key word is possible. Bloomberg said the deliberations are private, and SumUp has not publicly confirmed a filing, a timetable or a target valuation for a London offering. (bloomberg.com)
