The Series D round was backed by European banks and investors including Groupe BPCE and Crédito Agrícola.
"We are excited to continue our partnership with Meniga, which currently empowers the digital banking experience for our over 10 million users, and provides more than 100 million insights for our users every year. We are looking forward to seeing the firm’s continued focus on enrichment as well as personalised insights. These capabilities are critical for all BPCE banks to effectively engage with their end users and we have seen firsthand how Meniga’s solution is a key component for banks to succeed."
The investment was led by Sixth Street Growth to support international expansion and product development.
"Our mission is to create a world where everyone can build a thriving business. The consistent growth SumUp has shown over the past eleven years is a direct result of the success of the merchants we serve, and it would not be possible without the unwavering trust and support of the investor community. We are excited to have Sixth Street join that community. This funding gives us additional firepower to pursue growth opportunities and accelerate products that empower small businesses."
The largest European semiconductor venture funding round to date will support the construction of new fabrication lines in the UK.
"This successful Series D round is a clear testament to the massive opportunity for our innovative technology to enable item-level intelligence in virtually any object on the planet. Our global customers value our ultra-thin and flexible form factor, our breakthrough low cost of customisation and rapid production cycles, as well as the lower environmental footprint compared to silicon. Scaling our manufacturing capacity on the UK’s first ever 300mm wafer production lines at our site in Durham will enable us to deliver hundreds of billions of chips to customers worldwide over the coming decade."
The series D round values the business at $1.1bn and featured backing from Menlo Ventures, Norwest Venture Partners, Insight Partners, and Sierra Ventures.
"By helping the market to understand how to strategically use rebates for growth, and by demonstrating the financial outcomes our customers are achieving, we’re bringing to light what effective rebate management can deliver. Our customers average a 4x return on investment, save more than 40 hours a month, and can immediately return $300,000 or more. With this round of funding, we will drive even more financial outcomes for companies that are feeling the crunch of the supply chain and wanting to invest in their growth and partnerships."
SoftBank Vision Fund 2 led the Series E round with participation from Insight Partners and Georgian.
"Tractable’s AI has helped millions recover faster from accidents and natural disasters. In SoftBank we have a partner who understands the full application set of our technology at a granular level, combined deep networks within the insurtech, automotive and property sectors. I’m excited by what we can achieve in redefining trust and transparency to support people in managing the life cycles of their cars and homes."
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