Mobile Payment Company SumUp gets funding from BBVA to expand in Latin America

Spanish bank BBVA has added to a recent Series B funding round for mobile payments company SumUp to accelerate its growth in Spain and Latin America. The investment came from BBVA’s corporate venture arm BBVA Ventures.

The funding will be used to support SumUp’s planned expansion into South America. The investment is an expansion of an earlier Series B round of funding led by Groupon and American Express.

Founded in 2011, SumUp has offices in Berlin, London, Dublin, Madrid, Milan and Moscow.

“International expansion is a key component of our growth story,” says SumUp co-founder Jan Deepen. “Having BBVA as a strong partner at our side as we expand to regions beyond Europe – in particular South America – is invaluable. We’re looking forward to the great things we will achieve together with BBVA as we continue to reinvent the point of sale experience worldwide.”


Editorial Staff @portada_online

Portada Staff

MORE FROM PORTADA

Amazon, Wal-Mart Drawing the Largest Numbers of Online Hispanic Shoppers in US

Amazon, Wal-Mart Drawing the Largest Numbers of Online Hispanic Shoppers in US

We looked at the top 15 online retail sites visited by Hispanic shoppers in the US and how they scored in number of visitors in May 2018.


Dentsu Aegis Network Acquires Agency Global Mind

Dentsu Aegis Network Acquires Agency Global Mind

This is the third Latin American acquisition this year after the Japanese giant acquired M8 and White Label in April. Global Mind will triple the headcount of iProspect and strengthen Dentsu Aegis' pan-regional reach. 


4 Truths and One Lie About Multicultural Marketing According to Mel Rodriguez & Co, Starcom, Walton Isaacson…

4 Truths and One Lie About Multicultural Marketing According to Mel Rodriguez & Co, Starcom, Walton Isaacson…

We talked to Melissa Rodriguez, Dana Bonkowski, Albert Thompson, and Teylez Perez about the future of brands in an increasingly multicultural world. Reports estimate that by 2065 Hispanics will account for one-quarter of U.S. population. Brands should be aware of this opportunity and find appropriate communication strategies.