SumUp’s mobile Pos also expands in the United States. The London-based fintech, active in the sector of digital payments and innovative cashless solutions with over 2,800 employees on three continents, has announced the acquisition of Fivestars, the largest American local commerce network that combines an integrated marketing and payments platform, for 317 million dollars.
The acquisition will allow both companies to offer payment solutions and services marketing automation to small business owners both in the United States and around the world.
After closing a € 750 million funding round in March 2021, one of the most significant of the year in Europe, SumUp – which to date supports over three million users in 34 markets – is continuing its commitment to international expansion.
This is the first acquisition of SumUp in the United States and will provide the company with access to over 70 million consumers and 12,000 small businesses within the Fivestars network, which currently has over $ 3 billion in sales and 100 million transactions worldwide. year.
“Our global trading community has struggled with lockdowns, restrictions and instability due to the pandemic; we are confident that this acquisition will give additional energy to small US businesses, whose economy is recovering. Now is the time to show an ever stronger presence in the United States, offering support and innovative tools to American traders, just as we have done in other international markets, Europe above all, “said Marc-Alexander Christ, co-founder of SumUp. .