SumUp
SumUp provides a mobile point-of-sale solution that enables businesses to accept card payments through a compact card reader connected to smartphones or tablets. This technology facilitates seamless transactions for merchants, enhancing cash flow and customer convenience in various retail environments.
- Applications
- Commerce & Shopping
- Financial Technology
- Software Only
Funding
Raised to date
$2.6BRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
across 5 rounds
AEBCBVB+9$60M · Debt
Announced May 2025
Disclosed cumulative: $2.6B
Founders
Product
Problem
Many small businesses face challenges in accepting card payments due to the complexities and costs associated with traditional point-of-sale systems, including binding contracts and monthly fees. This can limit their ability to serve customers and grow their business.
Solution
SumUp provides a suite of mobile point-of-sale (mPOS) solutions and financial tools designed to simplify payment acceptance for businesses of all sizes. The core offering includes a range of portable card readers that connect to smartphones or tablets, enabling merchants to accept chip & PIN and contactless payments anywhere. Beyond hardware, SumUp offers a free business account, online store builder, invoicing tools, and payment links, creating a comprehensive ecosystem for managing finances and facilitating sales. The platform emphasizes transparent pricing with no binding contracts, allowing businesses to pay only a small transaction fee when they take a payment.
Target Audience
The primary target audience includes small business owners, retailers, restaurants, and service providers who need a flexible and affordable way to accept card payments in-store, on the go, and online.
Features
- Portable card readers (Air, Solo) that connect via Bluetooth or built-in SIM card
- Accepts major debit and credit cards, including Visa, Mastercard, American Express, and Maestro
- Supports contactless payments via NFC, Apple Pay, and Google Pay
- Free SumUp app for managing transactions, sales history, and product catalogs
- SumUp Business Account with a free Mastercard for managing business expenses
- Online store builder for creating and managing an e-commerce presence
- Payment links for remote payments via email, SMS, or social media
- Invoicing tools for creating and sending professional invoices
- Reporting and analytics to monitor sales performance
- Optional POS Lite system with integrated hardware and software
- Subscription-based "Payments Plus" plan for reduced transaction fees