Sumup makes 387 million euros turnover

The payment service provider is making more turnover despite corona. So far, the founder has been reluctant to provide specific figures.
News by Tom Schmidtgen Tom Schmidtgen · Stuttgart, 09. July 2021

The payment service provider is making more turnover despite corona. So far, the founder has been reluctant to provide specific figures.

Fintech Sumup, which was founded in Berlin in 2012, has a turnover of 387 million euros. This was reported by Finance Forward, which analyzed the consolidated financial statements for the past year in the Luxembourg commercial register. Turnover was ten percent higher than in the pre-corona year 2019. Nevertheless, the fintech is still making losses. EBIT was minus 84 million euros in 2020.

Until now, founder Marc-Alexander Christ has kept a lid on exact figures, always talking about a turnover of more than 200 million euros. But now "one of the biggest secrets of the German fintech scene has been revealed", writes Finance Forward. This means that the turnover of the German founder is higher than that of its European competitors. The British neobank Revolut only achieved a turnover of 222 million euros in 2020, while Wise is only just behind Sumup with 330 million euros.

Sumup sells small payment terminals for card payments, which are mainly used in the hospitality industry. The fintech, which is now based in London, employs 2,600 people.


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