Sumup makes 387 million euros turnover

The payment service provider is making more sales despite Corona. So far, the founder has been rather reticent with concrete figures.

The fintech Sumup, which was founded in Berlin in 2012, has a turnover of 387 million euros. This is reported by Finance Forward, which evaluated the consolidated financial statements for the past year in the Luxembourg commercial register. According to the report, the turnover was ten percent higher than in the pre-Corona year 2019. Nevertheless, the fintech continues to make losses. The EBIT was minus 84 million euros in 2020.

Until now, the founder Marc-Alexander Christ kept quiet about exact figures, always spoke of 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 puts the German founder's revenue higher than European peers. UK neobank Revolut had 2020 revenues of just €222 million, while Wise is just behind Sumup at €330 million.

Sumup sells small card payment terminals used primarily in the restaurant industry. The fintech, which is now headquartered in London, employs 2,600 people.