SumUp Expands its Product Suite with Acquisition of eCommerce Company Shoplo

LONDON - FEBRUARY 12th, 8AM GMT: SumUp (www.sumup.co.uk), the London-based financial technology company that allows small businesses to receive payments in a cost-effective way, quickly and simply, has announced its acquisition of multichannel eCommerce platform, Shoplo (www.shoplo.com). The product suite expansion will offer SumUp merchants access to various online marketplaces and aesthetically pleasing online storefronts, regardless of their business.

Today, SumUp‘s product suite encompasses accepting payments on-the-go or online, managing business at the point of sale, invoicing and bookkeeping, third-party integrations of payments, and other services via SDKs and APIs.

With the addition of Shoplo, SumUp is expanding its services for its over 1 million active users worldwide; offering online storefronts with multiple templates, features such as international shipping, chat functionality, invoicing and payments, as well as a unique multi-channel capability which enables merchants to easily sell on different marketplaces - such as Facebook, eBay or Etsy - all from within one central dashboard.

The acquisition of Warsaw-based company Shoplo, consisting of 30 employees, will provide SumUp with the template, technology, and expertise to expand the ecommerce area of its business, enabling it to offer a scalable solution that will allow its merchants to easily create their own online stores and sell on numerous ecommerce platforms, in just a few clicks.

The acquisition is part of the SumUp’s ambitious expansion drive as it creates a one-stop-shop for businesses of all sizes. As part of this strategy, SumUp recently acquired Danish company Debitoor (www.debitoor.com), an invoicing-software platform originally established for freelancers and SMEs which will be integrated within SumUp’s user offering. Debitoor’s team of 45 employees has joined forces with SumUp to empower small merchants globally.

Marc-Alexander Christ, Co-Founder of SumUp, comments: “From the shop-floor to the online checkout, SumUp is looking to be the first point-of-call to merchants globally. Every decision we make to expand our product suite is made with the consideration and feedback from our 1 million users worldwide. 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.”

Patryk Pawlikowski, CEO of Shoplo, adds: “Our vision to empower merchants globally is in line with the mission and goals of Sumup, and the acquisition will allow for scalability as well as faster go-to-market time that would not have been possible otherwise. Together, our two companies will work on bridging the online and offline world, taking the hassle out of merchants' lives and allowing them to focus on what they do best, bringing beautiful products to customers online and in-store.”