SumUp Considers $10B-$15B IPO in London or New York to Fuel European Acquisitions

UK fintech SumUp is preparing for an initial public offering that could value the card-reader specialist between $10 billion and $15 billion. The company is weighing listings on either the London Stock Exchange or New York markets, with a decision expected within the next year.

London's beleaguered IPO market stands to gain significant momentum from the potential listing. The LSE has suffered a three-year drought of major debuts, with many British firms opting for US listings to capitalize on higher valuations. Starling Bank, Revolut, and Wise have all pursued US-facing strategies recently.

SumUp plans to deploy IPO proceeds for strategic acquisitions of European payment rivals, accelerating growth while consolidating competition. The 2012-founded company has retained investment banks to advise on the offering process.