With a funding of $20 Million SumUp aims to compete with the likes of Square & Payleven

The high transaction fees charged by banks (over 2% per transaction) usually dissuades mid-size vendors from using credit card POS machines for their business. SumUp, a Berlin based mPOS startup, is targeting small and mid-sized vendors and businesses. SumUp is taking advantage of continued absence of competitors and incumbents to acquire small to mid-size merchants.

SumUp was Co-Founded in 2011 by Daniel Klein (CEO), Marc Christ (CSO), Petter Made (COO), Stefan Jeschonnek (CMO) and Jan Deepen (C ...

To continue reading, sign up for MEDICI Inner Circle and get free access for 30 days.
100,000+ FinTech professionals trust MEDICI Inner Circle to stay up to date on the latest in financial services.