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.”