London-based fintech company SumUp recently announced its acquisition of Shoplo, an ecommerce platform provider based in Warsaw.
SumUp operates in 31 countries globally. Launched in 2012, it operates a proprietary end-to-end mPOS payments platform. The company is registered as a payment facilitator in the U.S. and Latin America. According to TechCrunch, it has annual revenue of more than $200 million.
Shoplo serves more than 3,000 online stores across Europe, it said. The company enables its customers to build online stores and connect to online marketplaces such as Etsy and Showroom.
Executives highlighted the expanded capabilities the acquisition would allow the combined company to offer its small merchant clients.
“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,” Marc-Alexander Christ, co-founder of SumUp said in a blog post.
“From the boutique clothing stores, to florists and microbrewers, our platform is constantly looking to the technology solution which helps their business flourish. By leveraging Shoplo’s technology, SumUp’s merchants will get easy access to creating their very own online stores and selling on numerous eCommerce platforms in just a few clicks,” he said.
“Our mission to simplify eCommerce is in accordance with SumUp’s mission to empower small merchants globally 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 worlds and taking the hassle out of the merchants’ lives and allowing them to focus on what they do best, bringing beautiful products to customers online and in-store,” Patryk Pawlikowski, CEO of Shoplo said.