SumUp, a European rival to mobile payment company Square, raises a $20m series A round backed by Germany-based retailer Tengelmann's corporate venturing unit, b-to-v Ventures and others.
Mobile payments company SumUp has successfully raised a $20m series A round. Participating in the round were venture firms b-to-v Ventures, Shortcut Ventures, Tengelmann Ventures, and investor Klaus Hommels, who invested early in Skype, Facebook, and Xing.
The money raised will be used by SumUp to open up for business in the UK, Germany, Ireland, and Austria. Before the round, the company had used an initial investment from its founders to get it off the ground, according to news provider…
