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As of 2026
Business & Operations
Revenue: $500M - $1B+
A global financial technology company providing small businesses with affordable, easy-to-use payment solutions and hardware.
Overview
SumUp is a comprehensive financial platform designed to help small business owners accept payments, manage their finances, and grow their ventures. It offers an ecosystem of hardware (like card readers) and software (POS systems, invoicing, and business accounts) that eliminates the barrier to entry for micro-merchants and small retail businesses to accept card and digital payments.
Founded year: 2012
Founder: Daniel Klein, Stefan Jeschonnek, Marc-Alexander Christ, Petter Made, Jan Deepen
Team size: 3000-5000
Popularity: High market position among global micro-merchants
HQ: London, United Kingdom
Status: Active
Funding status: Late Stage
Revenue source: Transaction Fees
Customer type: SMBs
Funding: Multiple rounds, including Private Equity and Growth Capital
Pricing: Pay-as-you-go
Tech stack: Cloud Computing, Mobile Payment Gateway, Bluetooth (BLE), API Infrastructure
Platform: Web • iOS • Android
Integrations: Shopify, WooCommerce, Wix, Lightspeed, Xero
Founder story
Founded in 2012 in London, UK, by Daniel Klein, Stefan Jeschonnek, Marc-Alexander Christ, Petter Made, and Jan Deepen. The founders recognized that millions of small businesses were being left behind by traditional banks, which required high fees and complex hardware for payment processing. They aimed to democratize access to financial services by creating a simple, affordable solution that works for everyone.
What it does
- Provides portable, low-cost card readers for in-person payments
- Offers a cloud-based Point of Sale (POS) system for retail and restaurant management
- Includes a dedicated business account for managing payouts and daily banking
- Facilitates remote payments through invoicing and payment links
- Enables online store creation for merchants to sell directly to customers
Who it's for
- Small Business Owners
- Retail Shop Owners
- Restaurant and Cafe Managers
- Service-based Freelancers
Why it works
- Low barrier to entry with no fixed monthly fees or long-term contracts
- User-friendly hardware that integrates seamlessly with smartphones
- Transparent pay-as-you-go pricing structure favored by micro-merchants
- Rapid setup time allowing businesses to accept payments in minutes
- Comprehensive suite of tools that scales from simple payments to full POS management
Growth strategies
- International expansion into emerging and developed markets
- Product diversification into business banking and lending products
- Strategic acquisition of niche POS software providers
- Partnering with e- commerce platforms to enable omnichannel selling
Alternatives
Comparison overview
- SumUp is often compared to Square for its focus on small business payment hardware
- Unlike Square, which has a very deep penetration in the US market, SumUp has built a massive global footprint with a strong presence in Europe and Latin America, often providing a more competitive fee structure for micro-merchants in those regions.