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  • Payment
  • Players’ Strategy
  • United Kingdom

SumUp Buys Out the E-Payment Company Shoplo

FACTS

  • The London-based FinTech famous for their mPOS solution acquires the multichannel e-commerce platform Shoplo. So far, no details have been disclosed regarding this transaction.
  • Goal: Expand their range of services, provide merchant customers with access to several marketplaces including Etsy, eBay or Facebook.
  • SumUp’s set of offers includes:
    • Payment acceptance (online and on-the-go)
    • In-store transaction management
    • Invoicing
    • SDK or API-based services
  • Acquiring Shoplo will provide SumUp with the technology and expertise required to build their e-commerce business.

CHALLENGES

  • From in-store to online checkout. SumUp tries to meet an increasing demand as their customers can set up their own online stores easily and sell across several platforms in just a few clicks.
  • Building a one-stop-shop. SumUp also focuses on growth and, over time, plans to craft a one-stop counter for businesses of all sizes.

SumUp: Key figures

  • +$1Bn valuation
  • +$200M turnover
  • 1M users worldwide

MARKET PERSPECTIVE

  • SumUp became a unicorn and keeps enhancing their range of services through acquisitions. More than a year ago, they acquired Debitoor: an e-invoicing software for self-employed workers and SMEs.
  • The London-based FinTech follows in iZettle’s footsteps. In April 2018, before they were bought out by PayPal, this Swedish FinTech launched an e-commerce platform enabling SMEs to set up their own online stores and support e-payments.