London fintech startup SumUp acquires Shoplo

Keiligh Baker's picture

London-based financial technology company SumUp has announced its acquisition of multichannel eCommerce platform Shoplo.

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 1million 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.

Marc-Alexander Christ, Co-Founder of SumUp, said: “Every decision we make to expand our product suite is made with the consideration and feedback from our 1million users worldwide. By leveraging Shoplo's technology, SumUp's merchants will get easy access to creating their very own online stores.”

Patryk Pawlikowski, CEO of Shoplo, added: “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.”