Despite recession fears and the FinTech cool-off, the 10-year-old London-based PayTech SumUp (website) has secured $624 million in new funding round at an $8.5B valuation, a significant drop from its $22B valuation earlier this year. However, it is still an impressive transaction in times of cautious VC investors bringing the company's total financing volume to $1.6B. SumUp serves more than 4 million merchants in 35 markets worldwide. Marc-Alexander Christ and his friends founded the PayTech in 2012.