London-based payments firm SumUp has bought Polish e-commerce platform Shoplo for an expansion of its product suite, reports Antony Peyton of Fintech Futures (Finovate’s sister publication).
Financial details were not disclosed.
Marc-Alexander Christ, co-founder of SumUp, said: “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.”
Today, SumUp said its 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 Warsaw-based Shoplo, SumUp wants to expand its services for its one million users.
The idea is to offer online storefronts with multiple templates, features such as international shipping, chat functionality, invoicing and payments, and multi-channel capability which enables merchants to sell on different marketplaces – such as Facebook, eBay or Etsy – from within one central dashboard.
Shoplo has 30 employees and SumUp says their expertise will help it to expand the e-commerce area of its business.
SumUp recently purchased Danish company Debitoor, 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 joined SumUp.
Founded in 2011 and headquartered in Dublin, Ireland, SumUp demonstrated its platform at FinovateEurope 2013. Ranked at the top of the Inc. 5000 Europe last year, SumUp launched its 3G-powered credit card reader back in October. The technology enables merchants to process payments without requiring a mobile app or Wi-Fi connectivity.
SumUp has raised $44.3 million in funding, and includes Life.SREDA and BBVA Ventures among its investors.