Europe-based mobile point of sale provider SumUp has added to its Series B round of funding announced in May. This time the funding is led by global financial services giant BBVA, or more precisely, BBVA Ventures, its corporate venture arm. Previous participants included American Express and Groupon.

SumUp said it will use the additional funding to build out its payment solution and to leverage BBVA's presence in Latin America in order to expand its footprint into South America.

"International expansion is a key component of our growth story," said SumUp co-founder Jan Deepen. "Having BBVA as a strong partner at our side as we expand to regions beyond Europe — in particular South America — is invaluable. We're looking forward to the great things we will achieve together with BBVA as we continue to reinvent the point of sale experience worldwide."

SumUp isn't the first mobile POS player to eye the potentially lucrative Latin American market. Swedish competitor iZettle recently announced it had landed an investment and partnership with Banco Santander to spur its expansion into Latin American markets.

As a mobile POS provider, SumUp enables merchants, usually small businesses, the ability to accept debit and credit transactions on their mobile devices while charging a small per-transaction fee. In the case of SumUp, the cost is 2.75 percent. 

Speaking for BBVA Ventures, executive director Jay Reinemann called SumUp a great fit with BBVA.

"SumUp changes the way point-of-sale interaction works on a global scale. At BBVA, we pride ourselves in driving innovation in the financial sector globally. That's why we are very excited about investing in SumUp," he said.

The exact amount of the investment was not released, only that it was a "double-digit million euro" amount.

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