European mPOS specialist SumUp has closed a double-digit million dollar Series C funding round led by Russian fintech venture capital fund Life.Sreda. Existing investors, including Groupon, BBVA Ventures and various VC firms, also participated in the round.
mPOS player SumUp has closed a funding round
The funding will be used to expand SumUp’s technology and push its recently launched chip and PIN reader, which in a European first, the company built itself.
Alex Ivanov, chief financial officer of Life.Sreda, said: “No other mPOS player in the world has focused so much on disrupting the actual technology behind the revolutionary mPOS business model. We are impressed by SumUp’s end-to-end payments capabilities, especially their recently launched proprietary chip and PIN terminal.”
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