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Life.SREDA invests in mobile payment operator SumUp

0 13 August 2014

Russian venture fund Life.SREDA has reportedly upped its invested in mobile payment operator SumUp. The total investment in this round was reportedly more than $13 million.

Among the other participants in the round were long-time investors Groupon and banking group BBVA. The proceeds of the investment round will be invested in technological projects and in the development of mobile Chip&Pin, which would allow for the processing of payments with chipped cards.

About SumUp
SumUp was founded in August 2012, and it has since expanded across 14 countries, including the UK, Germany, Russia and Brazil. It a mobile EMV payment service.

About Life.SREDA
Venture fund Life.SREDA specialises in investments in mobile technology, financial and internet startups in the US and Europe (including Russia). Among Life.SREDA’s portfolio are New York based mobile bank Moven, German online bank FidorBank, mobile payment service LifePay and mobile bank Instabank.

Source: Firrma

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