SumUp rival Lopay bags €6.95M to help small businesses with payments: Here’s how

▤ Summary

London-based Lopay, an instant payment startup, announced recently that it has secured £6M (approximately €6.95M) in Seed round of funding from BackedVC, Portage, The Venture Collective, and a series of angel investors. The UK company will use the funds to accelerate the expansion of operations and its business reach. The funding comes after the company claimed to have signed up over 20,000 small businesses, processing almost 10 million payments. Richard Carter, founder of Lopay says, “Lopay’s mission to make it cheaper and quicker for small businesses to receive card payments has resonated with thousands of SMEs and sole traders, who are being squeezed simultaneously by high inflation and fragile customer demand.”

▦ Linked Companies