SumUp, the London-based fintech firm that permits small companies to take card funds by way of its gadget and on-line, has acquired “multi-channel” e-commerce platform Shoplo.

Phrases of the deal aren’t being disclosed, whereas SumUp says the acquisition will allow it to increase its product suite to offer SumUp retailers entry to numerous on-line marketplaces, akin to Fb, eBay and Etsy. As well as, Shoplo’s tech will even assist SumUp retailers create better-looking on-line storefronts.

“The acquisition of Warsaw-based firm Shoplo, consisting of 30 staff, will present SumUp with the template, expertise, and experience to increase the e-commerce space of its enterprise, enabling it to supply a scalable answer that can enable its retailers to simply create their very own on-line shops and promote on quite a few e-commerce platforms in just some clicks,” says SumUp.

Extra broadly, BBVA-backed SumUp began out providing performance akin to Silicon Valley’s Sq., and subsequently merged with Rocket Web’s Sq. clone Payleven. Nevertheless, the total SumUp product suite at this time encompasses accepting funds on-the-go or on-line, managing enterprise on the level of sale, invoicing and bookkeeping, third-party integrations of funds, and different companies by way of SDKs and APIs.

Partly, this has been achieved by way of acquisition, together with one other current buy: Danish firm Debitoor, an invoicing software program platform initially established for freelancers and SMEs which shall be built-in inside SumUp’s person providing

In the meantime, SumUp says these acquisitions are a part of SumUp’s formidable growth drive because it makes an attempt to create a one-stop-shop for companies of all sizes. It has additionally been rumoured that the U.Okay. fintech has achieved ‘unicorn’ standing — a valuation of $1 billion or extra — which it additionally formally conforming at this time. The corporate claims its surpassed annual income of $200 million.

Provides Marc-Alexander Christ, co-founder of SumUp, in an announcement: “From the shop-floor to the web checkout, SumUp is seeking to be the primary point-of-call to retailers globally. Each resolution we make to increase our product suite is made with the consideration and suggestions from our 1 million customers worldwide”.



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