UK-based Fintech firm SumUp, an international leader in virtual payments, has confirmed the appointment of a new CEO for Europe, Michael Schrezenmaier.
Schrezenmaier brings with him a “founder’s mentality” and a “hands-on” attitude, as well as being a “perfect cultural fit” for the London-based company, which is diverse, “in respect of markets served and its employees.”
As mentioned in a release shared with Crowdfund Insider, Michael held a number of C-suite positions, including COO and Co-CEO at his recent firm, Pipedrive, an established CRM platform. During his time working there, Pipedrive managed to achieve Unicorn status (business valued at $1 billion or more).
Before Pipedrive, Michael “cut his teeth” at Spark Networks, the New York Stock Exchange (NYSE) listed dating firm, where he served as COO and MD for nearly 7 years. He got his first proper “taste of the global nature” of business at Kuehne + Nagel, the logistics and supply chain platform active in more than 100 countries, where he “held a number of management positions in his four years there.”
Europeans are quite often proud of what makes them unique from their neighbors, even those closest to them, and these key differences “carry into the world of business and affect our relationship with money – especially how we spend it, and on what.”
The update further noted that Michael is “uniquely plugged into these quirks having worked in multiple industries across Europe.”
As the continent starts to look forward as the COVID-19 crisis slowly recedes, he “sees merchants meeting new consumer preferences (contactless payment, fully integrated payment and financial solutions) as being key to continued success.”
This trend “aligns with the vision at SumUp becoming a ‘one-stop shop’ for merchants,” the update noted.
Michael Schrezenmaier stated:
“SumUp is a company known for its entrepreneurial spirit and willingness to embrace change which, combined with its growth journey and continued upward trajectory, makes this an exciting time to join. Through its range of innovative solutions and dedication to merchants, SumUp is a leader in the payment space and I look forward to getting to know our merchants, drawn from across the globe, as the company continues its evolution to becoming the go-to financial and business account platform for SMEs in Europe.”
Marc-Alexander Christ, Co-Founder at SumUp, remarked:
“For SumUp to maintain positive momentum, we have to attract and hire the best people. Michael is a prime example of the type of person that will drive the company forward as we look to uphold our strong position in Europe – and deliver for our merchants. The rate at which SumUp has grown, and is growing presently, is testament to our peerless employees and our loyal merchants, who drive our company’s success. Michael’s appointment exemplifies our approach and we are certain he will play a major part in future company success.”
SumUp has enjoyed another solid year, the announcement revealed while noting that the firm remains focused on further expanding its services to “becoming a 360 payment provider to small merchants.” SumUp raised €750m earlier this year.
The raise involved Goldman Sachs, Temasek, Bain Capital Credit, Crestline and Oaktree Capital Management.
London-based with a international outlook, SumUp supports more than 3 million merchants today, “operating with an ever-expanding team containing more than 2,600 of the world’s best talent, situated across 19 offices worldwide.”
As previously reported, SumUp is a Fintech that enables companies to take payments quickly and simply, “both in-store and online.” SumUp is active in 34 different markets across Europe, the US, Brazil and Chile.
With its card terminals and online services relied upon by businesses of all sizes from DHL to black cab drivers – SumUp aims to serve as “the partner of choice for small businesses from every walk of life.” SumUp’s all-digital sign-up process, quick delivery, and fast set-up “means that merchants can be empowered by digital transactions within just minutes from receiving their card terminal.”