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Tuesday 10 December 2019

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Payments Awards 2019

Payment firm SumUp acquires Shoplo for e-commerce

Written by Hannah McGrath
12/02/2019

Payments provider SumUp has acquired e-commerce platform Shoplo as part of a strategy to expand its technology platform to merchants using online marketplaces including Facebook, eBay and Etsy.

SumUp is a London-based FinTech that aims to allow small businesses to receive payments in a cost-effective way.

It said the purchase of Shoplo, a Warsaw-based company with 30 employees, would enable it to expand its network to more than one million merchants in 31 countries using the SumUp platform to control their social media accounts from within one central dashboard.

Users will also be able to offer online storefronts with multiple templates and features, such as international shipping, chat functionality, invoicing and payments.

The buyout comes after SumUp made a similar move to purchase Danish company Debitoor, an invoicing-software platform originally established for freelancers and SMEs, which will be integrated within SumUp’s user offering along with its staff.

SumUp‘s product stable now encompasses acceptance of payments on-the-go or online, managing business at the point of sale, invoicing and third-party integrations of payments.

Marc-Alexander Christ, co-founder of SumUp, said: “From the boutique clothing stores to florists and microbrewers, our platform is constantly looking to the technology solution which helps their business to flourish. By leveraging Shoplo's technology, SumUp's merchants will get easy access to creating their very own online stores.”


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