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SumUp
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 | This article contains promotional content. (September 2024) |
SumUp is a British financial technology company headquartered in London. SumUp’s primary product is an EMV card reader and a number of online payment and bank account system for merchants and businesses.
Key Information
It has over 18 offices across Europe and America. As of 2022[update], SumUp supports more than 3.5 million merchants in over 30 markets worldwide, and operates business tools created specifically for the micro and nano segment.[2]
History
[edit]Foundation and early years
[edit]The idea of SumUp was conceived in 2011, and the company was founded in 2012.[3] Investors include Goldman Sachs, Temasek, Bain Capital Credit, Crestline, Oaktree Capital Management, American Express, BBVA Ventures and Groupon.[4]
SumUp's first product was officially launched in August 2012.[5]
In April 2016, SumUp announced it would merge with competitor Payleven,[6] a Berlin-based mobile payments provider by Rocket Internet.[7]
In February 2019, SumUp announced its acquisition of the eCommerce platform, Shoplo.[8]
SumUp also acquired Debitoor, a Danish company.[8] Debitoor is an invoicing software for freelancers and SMEs.[9]
In November 2020, SumUp acquired the London-based POS software provider Goodtill, followed by Paris-based Tiller in February 2021, to strengthen its position in the restaurant and hospitality sector.[10][11]
In February 2021, SumUp further acquired the Lithuanian core banking system provider Paysolut, after a two-years long business partnership between the two companies.[12]
In October 2021, SumUp acquired the California-based customer loyalty startup Fivestars for $317MM. The acquisition allowed SumUp to expand its services to over 70 million consumers and 12,000 businesses in the US and expand its product offering for the end consumer.[13]
2021 - present
[edit]
In March 2021, SumUp raised $895M in debt to double down on its B2C payments business.[14]
Following acquisitions and global expansion, SumUp now has almost 3,000 staff, spread across 23 locations, as of January 2022.[15] In June 2022, the company was valued at around €8 billion in a €590 million funding round and has since become one of Europe's most valuable fintechs.[16]
In May 2024, SumUp secured €1.5 Billion in funding led by Goldman Sachs to expand its global operations.[17]
Products and services
[edit]- Chip & PIN and NFC card terminal: SumUp's main product is an EMV card reader which can read magnetic strip, chip ("Chip and Pin"), and RFID/NFC ("contactless") payment cards.[18] The card reader pairs with an Android or iOS-based smartphone or tablet via Bluetooth, to verify payments through the Internet.
- 3G Chip & Pin and NFC card terminal: SumUp's 3G card reader[19] that works without an app. It has a built-in SIM card with data to enable payment processing over a local network connection.
- Point of sale system: As an all-in-one register, the SumUp Point of Sale system "POS register" consists of a SumUp card terminal, a pre-configured iPad, an iPad stand, a receipt printer, a cash drawer and a Wifi router.[20] Only available in Germany and select other countries.Other POS solutions are available via Tiller and Goodtill technologies.
- Payment Links: launched in 2020 to allow small business to get paid safely and remotely via payment links sent via smartphone.[21]
- Gift Cards: launched in 2020 via a partnership with Google, small businesses can use Google My Business to add gift cards directly to their profile.[22]
- Online Store: In 2021 SumUp announced the relaunch of the SumUp Online Store, an e-commerce platform that enables anyone to create an online business for free.[23]
- Business Account: Launched in 2021, this tool is a way for merchants to keep business and personal money completely separate. Merchants can use it to make transfers and receive next-day payout.[24]
- SDKs & APIs: SumUp allows third parties to integrate the end-to-end payment infrastructure as well as card terminals via the SumUp Terminal Payment SDK for iOS and Android as well as several other APIs for developers. Through the integration with the open SumUp platform, third parties can offer card acceptance via their native or browser-based applications. SumUp's SDKs and APIs support acceptance of Visa, VPay, Mastercard, Maestro, American Express, Apple Pay, Android Pay as well as local debit card schemes.[25]
Global operations
[edit]As of 2021[update], SumUp was active in 34 countries and serves more than three million merchants.[26] In August 2012 the company launched its services in Germany, Austria, United Kingdom and Ireland.
In November 2012, Italy, Spain and the Netherlands opened up as new markets.[5] One month later, in December 2012, SumUp expanded to France, Belgium and Portugal.[27] In November 2013, SumUp launched service in Brazil.[28]
Since May 2014, SumUp also operates in Poland and Switzerland.[29] Sweden was launched in September 2015.[30]
Since October 2016, SumUp has been operating in the United States.[31][32]
In September 2017, SumUp launched its service in 15 European countries - Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, Greece, Hungary, Latvia, Lithuania, Luxembourg, Malta, Norway, Slovakia and Slovenia.
In November 2017, SumUp announced a joint venture with Banco del Estado de Chile.[33] The combined business operates under the brand "Compraqui" and is headquartered in Santiago de Chile.[34] As of September 2020, Compraqui is operated 100% by Banco Estado and SumUp's operations in Chile are independent of the public owned bank.[35]
References
[edit]- ^ "SumUp Payments Limited: Private Company Information". Bloomberg. Retrieved 23 January 2017.
- ^ "Business made simple". www.sumup.com. Retrieved 29 March 2022.
- ^ Trajkovska, Bojana (28 December 2018). "Assemble a team of visionaries: Interview with fintech unicorn SumUp co-founder Marc-Alexander Christ | EU-Startups". Retrieved 21 July 2019.
- ^ Lunden, Ingrid (16 March 2021). "SumUp raises $895M in debt to double down on its B2C payments business". techcrunch.com. TechCrunch. Retrieved 29 March 2022.
- ^ a b Lunden, Ingrid. "SumUp, Another European Square, Expands To Italy, Spain And Holland, Now Covering 7 Countries 12 Weeks Into Launch". TechCrunch. Retrieved 4 January 2018.
- ^ Ingrid Lunden (27 April 2016). "SumUp and Payleven merge as European 'Square clones' consolidate". TechCrunch.
- ^ Robin Wauters (27 April 2016). "Fintech Fusion: European mobile payment startups SumUp and Payleven confirm merger". tech.eu.
- ^ a b "SumUp Expands its Product Suite with Acquisition of eCommerce Company Shoplo". SumUp - a better way to get paid. Retrieved 29 May 2020.
- ^ "Invoicing software built to help small business thrive". debitoor.com. Retrieved 29 May 2020.
- ^ "SumUp acquires London-based Goodtill to expand services to restaurant and hospitality sectors". goodtill. 19 November 2020.
- ^ Taffin, Anne. "SumUp acquiert Tiller pour être prête à la réouverture des restaurants". Maddyness (in French). Retrieved 3 February 2021.
- ^ "SumUp acquires Lithuanian fintech Paysolut". Finextra. 2 February 2021.
- ^ Lunden, Ingrid (14 October 2021). "European point of sale provider SumUp acquires customer loyalty startup Fivestars for $317M". tech crunch.com. TechCrunch. Retrieved 29 March 2022.
- ^ "SumUp raises $895M in debt to double down on its B2C payments business". 16 March 2021.
- ^ Finn, Aisling. "SumUp has paid $317m, in a mix of cash and stock, for US payments network Fivestars". altfi.com. Altfi. Retrieved 29 March 2022.
- ^ Klotz, Nina Anika (23 June 2022). "Payment-Startup Sumup schraubt Bewertung auf acht Milliarden Euro hoch". Business Insider (in German). Retrieved 17 January 2023.
- ^ "SumUp Secures €1.5 Billion in Funding led by Goldman Sachs to Expand Global Operations". Fintech Industry Examiner. 2 May 2024. Retrieved 2 May 2024.
- ^ "Contactless Card Reader NFC". SumUp. Retrieved 23 January 2017.
- ^ "SumUp - a better way to get paid". SumUp - a better way to get paid. Retrieved 5 April 2019.
- ^ "iPad POS system - Point of Sale | SumUp". sumup.co.uk. Retrieved 4 January 2018.
- ^ "SumUp to offer free mobile payments to EU merchants". finextra.com. Finextra. 20 March 2020. Retrieved 29 March 2022.
- ^ Rusman, Evie (July 2020). "SumUp teams with Google to allow businesses to add gift cards to profile". cardsinternational.com. Cards International. Retrieved 29 March 2022.
- ^ "SumUp revamps online store". finextra.com. Finextra. 5 October 2021. Retrieved 29 March 2022.
- ^ "SumUp opens business accounts for fast-growing merchants". finextra.com. Finextra. 16 November 2021. Retrieved 29 March 2022.
- ^ "SumUp releases new SDK and API for iOS and Android developers » PaymentEye". www.paymenteye.com. Retrieved 4 January 2018.
- ^ Al Ali, Nour (14 October 2021). "SumUp Buys Fivestars for $317 Million to Target U.S. Merchants". Bloomberg. Retrieved 29 March 2022.
- ^ Lomas, Natasha. "SumUp, Another European Square, Expands To 3 More Markets: France, Belgium, Portugal — Now Taking Payments In 10 Markets". TechCrunch. Retrieved 4 January 2018.
- ^ Finextra (13 November 2013). "SumUp opens Sao Paulo office for Brazil launch". Finextra Research. Retrieved 4 January 2018.
- ^ "Mobil-Bezahldienst SumUp expandiert mit neuem Lesegerät". FOCUS Online (in German). Retrieved 4 January 2018.
- ^ "SumUp takes on iZettle on its home turf, Sweden". Tech.eu. Retrieved 4 January 2018.
- ^ "SumUp Launches US Expansion With EMV Terminal | PYMNTS.com". www.pymnts.com. 22 October 2015. Retrieved 4 January 2018.
- ^ "SumUp expands to the US market » PaymentEye". www.paymenteye.com. Retrieved 4 January 2018.
- ^ Finextra (21 November 2017). "BancoEstado and SumUp to launch mobile card acceptance in Chile". Finextra Research. Retrieved 4 January 2018.
- ^ "SumUp teams with BancoEstado for cool mobile card deal in Chile | Banking Technology". www.bankingtech.com. 22 November 2017. Retrieved 4 January 2018.
- ^ Vazquez, Dayana (3 September 2020). "BancoEstado finaliza alianza con SumUp y se queda con la propiedad y marca Compraquí". América Retail.
SumUp
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History
Founding and early development
SumUp was founded in 2012 in London by Daniel Klein, Jan Deepen, Marc-Alexander Christ, and Stefan Jeschonnek, with the goal of providing small businesses access to affordable mobile payment solutions that were previously unavailable due to high costs from traditional providers. The company emerged in response to the need for simple, low-cost card acceptance for micro-merchants, such as street vendors and freelancers, inspired by similar innovations in the U.S. market. Initially operating from offices in London, Berlin, and Dublin, SumUp positioned itself as a European alternative to companies like Square.[5][6] The company's first product, a compact mobile card reader that attaches to smartphones and tablets, officially launched on August 23, 2012, in markets including the UK, Germany, Ireland, and Spain. This launch was supported by a Series A funding round of approximately €15 million (about $20 million) from investors such as b-to-v Partners, Shortcut Ventures, and Tengelmann Ventures, enabling rapid product development and market entry. By December 2012, SumUp had expanded to ten European countries, including France, Belgium, and Portugal, processing payments via a simple app with low transaction fees starting at 1.69%.[7][8][9] Early growth accelerated in 2013 with SumUp's entry into Brazil, its first non-European market, targeting the country's large informal economy of small vendors. This expansion was bolstered by a Series B funding round that included participation from BBVA Ventures, providing capital for international scaling and technological enhancements like improved security features. In 2014, the company further grew into Switzerland and Poland while securing additional investments, including a Series C round of over €10 million ($13 million) led by existing backers, which supported team expansion and product iterations such as enhanced reader compatibility. These steps solidified SumUp's focus on underserved small businesses, achieving significant adoption in Europe and Latin America by mid-decade.[10][11][12]Expansion and recent milestones
Following its early development in Europe, SumUp pursued aggressive international expansion to serve small and medium-sized businesses globally. In 2015, the company launched its open mobile point-of-sale (mPOS) platform, including software development kits for iOS and Android, which enabled broader integration for merchants.[13] By 2017, SumUp had entered 15 additional European markets, increasing its presence to 31 countries across the continent.[14] SumUp's push beyond Europe began in 2017 with its entry into Latin America through a partnership with BancoEstado in Chile, aiming to triple card acceptance points to 1.5 million within three years. The company continued this trajectory, launching in Colombia and Croatia in 2021, while acquiring key firms to bolster its offerings: Goodtill for point-of-sale software in 2020, and Tiller, Paysolut, and Fivestars in 2021 to enhance restaurant management, cash register solutions, and customer loyalty programs, respectively. These moves expanded SumUp's ecosystem and facilitated entry into new regions.[15][10][16][17] In recent years, SumUp has accelerated growth amid a challenging fintech landscape. In December 2023, it raised €285 million ($307 million) in a funding round led by Sixth Street Growth to fuel international expansion and product innovation.[18][19] By 2024, SumUp extended its Cash Advance product—initially launched in the UK in 2020—to Germany, France, Ireland, and the Netherlands, providing flexible financing to merchants based on transaction history. In May 2024, it secured a €1.5 billion private credit facility led by Goldman Sachs, one of the largest such deals for a fintech, to strengthen its position in digital payments across more than 30 markets serving millions of merchants. That same year, the company achieved a major operational milestone by processing over 1 billion transactions annually.[20][21] Into 2025, SumUp further solidified its global footprint, launching operations in Mexico in October as its 37th market and scaling its U.S. presence with an expanded suite of tools for small businesses, including payment processing, invoicing, and loyalty features tailored to retain and acquire customers. In November 2025, SumUp announced an exclusive technology partnership with Gong cha to streamline POS, kiosks, mobile ordering, and loyalty programs across more than 400 stores in the Americas. Reports in September 2025 also indicated SumUp is exploring a potential stock market listing that could value the company at $15 billion, building on its last equity valuation of €8 billion in 2022.[22][23][24][25]Products and services
Payment processing solutions
SumUp's payment processing solutions are designed primarily for small and medium-sized businesses, offering affordable hardware and software to accept card payments both in-person and remotely. These solutions integrate seamlessly with the free SumUp app, available on iOS and Android, enabling merchants to process transactions via smartphones or tablets without monthly fees, contracts, or minimum processing volumes.[26][27] The core of SumUp's in-person payment processing revolves around compact card readers that support major credit and debit cards, including Visa, Mastercard, American Express, Discover, Apple Pay, Google Pay, and NFC contactless payments. The SumUp Plus reader, priced at $54, connects via Bluetooth to a mobile device and handles over 500 transactions per charge, making it ideal for mobile merchants like market vendors.[27] In contrast, the standalone SumUp Solo, at $99, features a built-in touchscreen, WiFi connectivity, and an 8-hour battery life, allowing independent operation without a phone for fixed-location businesses such as cafes.[27] SumUp also offers the Terminal, priced at $249, a handheld device with an integrated receipt printer and POS features for more advanced setups. Both the Plus and Solo incur a transaction fee of 2.6% plus 10¢ for in-person payments, with funds typically deposited the next business day into a linked SumUp merchant account.[27][28] For more advanced setups, SumUp provides point-of-sale (POS) systems that combine hardware like customer-facing touchscreens and employee registers with cloud-based software for inventory management, order processing, and customer loyalty programs. These systems support industry-specific features, such as table management for restaurants or product catalogs for retail, and integrate online ordering without third-party commissions.[29] Pricing is tiered into packages with monthly subscriptions starting at $99 for basic POS and scaling to $289 for Pro with unlimited AI-driven promotions, while maintaining the same low in-person transaction fees of 2.6% plus 10¢.[29][30] The POS hardware is compatible with accessories like receipt printers and cash drawers, enhancing efficiency for growing operations.[29] SumUp also facilitates remote payments to accommodate non-physical transactions, with options like Payment Links sent via email or text for customers to pay securely online (3.5% plus 15¢), Virtual Terminal for phone-based card entry (3.5% plus 15¢), and professional Invoices for billing (2.9% plus 15¢ for online payments). These methods offer pay-as-you-go flexibility without setup costs.[31][28] All remote tools are accessible through the SumUp app or dashboard, providing real-time tracking and automated reminders to improve cash flow for service-based businesses like consultants or delivery services.[31] Overall, these solutions emphasize security through PCI compliance and encryption, with no hidden fees, targeting over 4 million merchants globally by simplifying acceptance of diverse payment types.[31][1][3]Business management tools
SumUp offers a suite of business management tools designed to streamline operations for small businesses, including point-of-sale systems, invoicing software, and expense tracking solutions. These tools integrate seamlessly with SumUp's payment ecosystem, enabling merchants to handle sales, inventory, staff, and finances in one platform. By providing cloud-based access and mobile apps, SumUp emphasizes simplicity and scalability for freelancers, retailers, and service providers.[26] The core of SumUp's business management offerings is its Point of Sale (POS) system, available in hardware-software bundles like Connect Lite and Connect Plus. This tool facilitates order processing, customer relationship management, and operational oversight beyond transactions. Key features include inventory management, where users can upload stock via bulk or manual methods, monitor levels in real-time, and receive automatic low-stock alerts to prevent shortages. Staff management capabilities allow owners to create individual employee profiles with role-based permissions, track clock-in/out times, and generate performance reports on sales by team member. Additionally, POS analytics provide insights into metrics such as average order value, inventory turnover, and customer loyalty patterns, helping businesses optimize pricing and stock decisions. Online ordering integration enables seamless e-commerce fulfillment, while loyalty programs through SumUp Connect offer digital stamps, points-based rewards, and automated marketing campaigns to encourage repeat visits—such as earning free items after a set number of purchases.[32][33][34][35] Complementing POS, SumUp Invoices serves as a dedicated tool for billing and cash flow management, allowing users to generate professional, legally compliant invoices from mobile devices or computers. Businesses can customize templates, add items from product catalogs, and send invoices via email with embedded payment links for instant credit card settlements. Tracking functionalities display real-time statuses—such as sent, viewed, paid, or overdue—along with notifications for customer actions, ensuring prompt follow-ups. Customer management is enhanced through accessible statements summarizing invoice histories and payments, while dashboard graphs visualize incoming funds to aid financial planning. This tool supports multi-currency transactions and integrates with SumUp Accounts for automatic reconciliation, reducing administrative errors.[36][37] For expense oversight, SumUp Expenses provides a free mobile app to capture and organize costs, integrating directly with the SumUp Business Account and Mastercard for automatic transaction imports. Users can scan or upload receipts instantly, with automatic categorizations and VAT calculations to simplify bookkeeping. The analytics dashboard offers real-time views of spending patterns and budget adherence, facilitating informed decisions on cost control. Data exports in formats compatible with accounting software streamline tax preparation, and all records are securely stored for audits. This tool is particularly valuable for sole traders tracking variable expenses like supplies or travel without manual entry.[38][39] These tools collectively reduce operational silos, with cross-integrations like POS data feeding into invoices and expenses for holistic financial visibility. While basic payment processing follows a no-subscription, pay-per-transaction model, POS systems and advanced features like loyalty programs require monthly subscriptions or add-ons.[40][30]Corporate affairs
Funding and investments
SumUp has raised over $3.5 billion in total funding since its inception in 2012, combining equity investments and substantial debt financing to support product development, market expansion, and acquisitions. This capital has primarily come from venture capital firms, private equity players, and financial institutions, reflecting the company's strategy to scale its payment solutions for small businesses while maintaining operational flexibility through debt.[41] The company's early funding focused on equity rounds to establish its foothold in Europe. In 2012, SumUp completed a Series A round of approximately $20 million, led by b-to-v Partners and Shortcut Ventures.[42] Subsequent Series B and C rounds in 2013 and 2014 raised additional tens of millions, with participation from investors including BBVA Ventures and Groupon, enabling initial product launches and international entry.[43] By 2015–2017, multiple Series D extensions totaling around $32 million further bolstered growth, attracting backers like American Express Ventures.[2] As SumUp matured, it shifted toward larger debt facilities to leverage its revenue streams without excessive dilution. In 2019, it secured $371 million in conventional debt.[42] This was followed by a $895 million debt round in 2021, led by Goldman Sachs, which funded aggressive expansion into new markets.[42] A pivotal equity infusion came in June 2022 with a €590 million ($624 million) Series E round—a mix of debt and equity—valuing the company at €8 billion and led by Bain Capital Tech Opportunities, with participation from existing investors.[44]| Round Date | Type | Amount | Key Investors |
|---|---|---|---|
| August 2012 | Series A | $20M | b-to-v Partners, Shortcut Ventures[42] |
| 2013–2014 | Series B/C | Undisclosed (tens of millions total) | BBVA Ventures, Groupon[43] |
| 2015–2017 | Series D (extensions) | ~$32M | American Express Ventures, others[2] |
| March 2021 | Debt | $895M | Goldman Sachs[42] |
| June 2022 | Series E (debt/equity) | €590M ($624M) | Bain Capital Tech Opportunities, participation from existing investors[44] |
| December 2023 | Series E | $307M | Not specified in detail[42] |
| May 2024 | Debt | $1.6B | Goldman Sachs Asset Management and other private credit providers[45] |
| June 2025 | Debt/Equity | €590M | Bain Capital Tech Opportunities, BlackRock, btov Partners, Centerbridge, Crestline[46] |
Acquisitions and partnerships
SumUp has pursued growth through strategic acquisitions, primarily targeting companies that enhance its payment processing, point-of-sale (POS), e-commerce, and business management offerings for small and medium-sized enterprises (SMEs). The company's acquisition activity peaked in 2021, with multiple deals aimed at bolstering its software ecosystem and international presence.[10] In April 2016, SumUp announced a merger with payleven, a Berlin-based mobile payments provider backed by Rocket Internet, to combine operations and create a leading European player in mobile point-of-sale solutions processing over 100,000 transactions daily across 10 markets. The all-stock deal valued the combined entity at approximately €700 million and expanded SumUp's footprint in Central and Eastern Europe.[49][50] SumUp's 2019 acquisitions focused on e-commerce and invoicing tools. In February 2019, it acquired Debitoor, a Danish invoicing software platform for freelancers and SMEs, to integrate automated billing and accounting features into its payment services. Later that year, SumUp purchased Shoplo, a Polish multichannel e-commerce platform, enabling merchants to manage online stores alongside in-person payments and supporting expansion in Eastern Europe.[51][52] The company continued its acquisition strategy in 2020 and 2021 to strengthen POS and digital services. In November 2020, SumUp acquired Goodtill, a London-based cloud POS software provider specializing in hospitality, to offer integrated table management, inventory tracking, and reporting for restaurants and retailers. In February 2021, it acquired Paysolut, a Lithuanian core banking technology firm, to develop embedded finance solutions like instant payouts and lending for merchants. That same month, SumUp purchased Tiller, a Paris-based digital ordering platform for gastronomy businesses, enhancing mobile ordering and contactless payment capabilities across Europe. In October 2021, SumUp acquired Fivestars, a U.S.-based customer loyalty and marketing platform, for $317 million in cash and stock, gaining access to a network of over 70 million consumers and accelerating its U.S. market entry by combining payments with loyalty programs.[53][16][54][55][56][57] In addition to acquisitions, SumUp has formed key partnerships to integrate its technology with complementary services and expand SME support. In June 2024, SumUp partnered with Adyen, a global payments platform, to enable faster payouts and improved cash flow for millions of SMEs worldwide through accelerated settlements. More recently, in November 2025, SumUp entered an exclusive technology partnership with Gong cha, a leading bubble tea chain, to deploy integrated POS, kiosks, mobile ordering, and loyalty programs across over 400 stores in the Americas, streamlining digital operations for the franchise. Earlier partnerships include collaborations with financial institutions like UniCredit and UBS for integrated payment solutions, as well as integrations with Metro Cash & Carry for retail supply chain tools and mytaxi for ride-hailing payment acceptance, which helped establish SumUp's ecosystem in Europe during its early expansion.[58][59][14]Global operations
Markets and expansion timeline
SumUp, a global fintech company specializing in payment solutions for small businesses, has pursued an aggressive expansion strategy since its founding, prioritizing underserved markets with high concentrations of micro-entrepreneurs and small merchants. The company's growth has been driven by organic market entries, strategic acquisitions, and product innovations tailored to local regulatory and economic conditions, enabling it to scale from 10 initial European markets to over 35 countries by 2025. This expansion has focused on regions with fragmented payment infrastructures, such as emerging economies in Latin America and Eastern Europe, where digital payment adoption is accelerating.[10] The company's international footprint began in Europe, where it addressed barriers to card acceptance for small vendors by offering affordable, mobile point-of-sale devices. By 2017, SumUp had more than doubled its presence through a major push into additional European countries and its first foray into Latin America, reflecting a deliberate strategy to consolidate in high-potential regions before broader global outreach. Subsequent expansions into North America, Oceania, and further Latin American markets have been supported by funding rounds that fueled localized product adaptations, such as EMV-compliant readers for the U.S. and contactless solutions for diverse regulatory environments.[10][46] Key milestones in SumUp's market expansion include:- 2012: Launched operations in its founding markets of France, Belgium, Portugal, Italy, Spain, the Netherlands, Germany, Austria, the United Kingdom, and Ireland, introducing the first EMV card reader to enable small businesses to accept card payments affordably.[10]
- 2013: Entered Brazil, marking the company's initial expansion beyond Europe into a major emerging market with a large informal economy.[10]
- 2014: Expanded to Switzerland and Poland, targeting stable Western European and growing Eastern European economies.[10]
- 2015: Launched in Sweden, further strengthening its Nordic presence.[10]
- 2016: Entered the United States market with an EMV terminal tailored for American merchants, alongside a merger with Payleven to bolster European operations.[10]
- 2017: Rapidly added 15 new markets across Europe and Latin America, including Chile, Slovenia, Slovakia, Norway, Malta, Luxembourg, Lithuania, Latvia, Hungary, Finland, Estonia, Denmark, Cyprus, the Czech Republic, and Bulgaria, bringing the total to 31 countries and emphasizing underserved small business segments.[10]
- 2021: Expanded into Croatia and Colombia, focusing on Southeastern Europe and Latin America to support regional digital payment growth.[10]
- 2023: Launched in Australia, extending its reach into the Asia-Pacific region amid rising demand for mobile payments among small retailers.[10]
- 2025: Entered Mexico as its 37th market, introducing solutions to enhance digital payment access in a key Latin American economy with over 5 million small businesses.[60][10]