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.