In Brief: SumUp Acquires Tiller

The British-based FinTech SumUp, which specializes in mobile cash registers for small professionals and freelancers, recently announced its international expansion. It is accelerating further by announcing several acquisitions.

The first is Lithuanian FinTech Paysolut, active in Bank-as-a-Service and which makes its payment institution license available to its partners. This acquisition will enable SumUp to strengthen its core banking offer.

Second acquisition in France, is the cash register systems specialist, Tiller. The group operates in France, but also in Italy and Spain. In total, Tiller has 9,000 merchant customers in these three countries. It offers a wide range of services to its customers:

• order taking on delivery,
• reservations,
• order management,
• payment.

This offer will therefore reinforce the already comprehensive SumUp offer:

• mPOS solution embedding a cash register software
• link payment,
• billing solutions,
• online sales

Despite the economic context, Tiller remained profitable. With this strategic acquisition, SumUp is further expanding its position in the value chain and equipping itself with an additional tool when restaurateurs are able to reopen their doors. The potential is therefore great. Geographical complementarity will also play a role for both companies.

Previously, SumUp had also acquired Debitoor in 2018, in the accounting sector, then Shoplo in 2019 in e-commerce and, finally, Goodtill in 2020, in the hotel and restaurant segment. The unicorn is therefore at the head of a very diversified, but coherent offer to address the needs of small entrepreneurs.