Sumup gets new European boss

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

Change in leadership: Sumup has a new CEO Europe in Michael Schrezenmaier. "I look forward to meeting our merchants from around the world as the company continues its evolution into the leading financial and business account platform for SMEs in Europe," says the new boss.

Schrezenmaier previously served at CMR platform Pipedrive as COO and, at times, co-CEO. In November 2020, the startup with Estonian roots rose to unicorn status. Schrezenmaier's career began at dating company Spark Networks, where he spent seven years in management.

Sumup's co-founder Marc-Alexander Christ is also excited about the new addition: "Michael is a prime example of the kind of person who will take the company forward as we look to maintain our strong position in Europe and provide the best products and services for our merchants," Christ enthuses, placing hope in his new colleague: "Michael's appointment is a good example in the spirit of SumUp's founding principle and I'm sure he will play an important role in the company's future success." Sumup has 2,600 employees across 19 locations worldwide.

The startup targets small businesses worldwide as a payment service provider, offering everything from online payment methods to in-store card terminals with the software behind them. Earlier this year, Sumup received 750 million euros for its efforts.