Sumup gets new European boss

He brings experience in management and will head up the European division with immediate effect: Michael Schrezenmaier joins the Sumup management team.

Change in management: Sumup has a new CEO Europe in Michael Schrezenmaier. "I look forward to getting to know our merchants from all over the world as the company continues its development into the leading financial and business account platform for SMEs in Europe," says the new boss.

Schrezenmaier previously worked at the CMR platform Pipedrive as COO and at times as co-CEO. In November 2020, the start-up with Estonian roots became a unicorn. Schrezenmaier's career began at the dating company Spark Networks, where he worked in management for seven years.

Sumup's co-founder Marc-Alexander Christ is also delighted with the new addition: "Michael is a prime example of the kind of person who will take the company forward if we want to maintain our strong position in Europe and offer the best products and services for our retailers," says Christ, who has high hopes for his new colleague: "Michael's appointment is a good example of the SumUp philosophy and I am sure that he will play an important role in the future success of the company." Sumup has 2,600 employees in 19 locations worldwide.

The start-up is a payment service provider for small businesses worldwide and offers the software behind everything from online payment methods to in-store card terminals. At the beginning of the year, Sumup received 750 million euros for this.