Top Fintech Startups London – SumUp
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SumUp is mobile payments company that provides card readers to smaller businesses for them to use without a contract.
They take a 1.69% cut of payments made using the terminal but provide an easy and cost-effective way for businesses to make transactions.
The company recently bought Shoplo, a Poland-based multichannel eCommerce platform that allows small businesses to start selling online.
As part of SumUp’s expansion strategy, they also acquired Danish company Debitoor, an invoicing-software platform originally established for freelancers and SMEs.
In 2019 SumUp, announced that it has raised a from Bain Capital Credit, Goldman Sachs Private Capital, HPS Investment Partners, and TPG Sixth Street Partners.
SumUp plans to use this capital to accelerate its growth and acquire new merchants in its current and new markets across the globe.
The funds will be used to continue expanding SumUp’s product suite, both organically and through more acquisitions such as the acquisition of Debitoor, for accounting and Shoplo for ecommerce.