Activity continues to spur in the merchant acquiring industry as several payment entities seek growth through the public market as well as private funding. To start, Stripe announced early in the week their latest funding round, which pulled in $600 million and brought their valuation to $95 billion. Stripe intends to use this funding to help expand their presence in Europe, as well as to further develop their global payments and treasury network. Speculation in the market continues to swirl around a potential IPO in the future, however, Stripe is staying quite on that matter and focusing on their global efforts on increasing commerce taking place online.
In other related news, SumUp announced this week they have secured approximately $895 million in debt financing as they seek to continue expanding their business, potentially through acquisitions. With this financing, SumUp will look to launch in new markets in Europe, Latin America, and Asia. Additionally, the company recently acquired Paysolut earlier this year, which helped allow them to grow in Lithuanian. Lastly, the Swedish payments startup Trustly is reportedly exploring a potential IPO, which could value the company at more than $11 billion.