SumUp

Provides card payment solutions for SMBs

London, England, United Kingdom

About SumUp

SumUp provides card payment solutions specifically designed for small to medium-sized businesses (SMBs). Their main product is a range of portable card readers that enable businesses to accept credit and debit card payments easily, whether they are at a fixed location or on the go. The card readers are user-friendly and cater to various types of businesses, from local shops to freelancers. SumUp differentiates itself from competitors by offering transparent pricing with no monthly fees or contracts, charging a flat rate of 2.75% per in-person transaction. This straightforward approach helps small businesses manage their costs without the worry of hidden fees. The goal of SumUp is to empower SMBs by providing them with affordable and secure payment processing solutions, allowing them to grow their businesses by accepting card payments seamlessly.

London, United KingdomHeadquarters
2012Year Founded
$643.9MTotal Funding
DEBTCompany Stage
Fintech, Financial ServicesIndustries
1,001-5,000Employees

Benefits

Health Insurance
Life Insurance
401(k) Retirement Plan
Gym Membership
Conference Attendance Budget
Professional Development Budget

Risks

Increased competition from Revolut's new payment terminal for larger businesses.
SumUp's rapid expansion may strain operational resources and integration.
Offering 0% transaction fees for small payments may impact profitability.

Differentiation

SumUp offers a comprehensive payment solution with proprietary hardware and mobile apps.
The company provides transparent pricing with no monthly costs or contracts for SMBs.
SumUp's global presence spans across Europe, South America, and the U.S.

Upsides

SumUp surpassed 1 billion transactions annually, indicating strong market demand.
The launch of POS Lite targets U.S. microbusinesses, expanding SumUp's customer base.
Partnership with Xero enhances SumUp's ecosystem, streamlining accounting for merchants.