Business

Global fintech SumUp arrives in Colombia and plans to end the first semester with 25,000 business clients

Toni Riera, general manager of SumUp in the country told La República that more than offering payment solutions, the company's goal is to be a digital bank

SumUp's POS terminal.
SumUp's POS terminal. Photo: Screenshot
  • The first country in Latin America to be targeted by fintech was Brazil, in 2016. Next came Chile, and now it’s Colombia’s turn;
  • Worldwide, the company has over 3.5 million partner merchants, and 2,300 employees globally.;
  • Currently, SumUp operates in more than 30 countries.

The London-based fintech SumUp, mostly known for its POS terminals and payment solutions, is likely to end the first semester of 2021 with 25,000 business clients in Colombia. That’s what Toni Riera, general manager of SumUp in the country told La República.

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“We have an average of 7,000 new businesses registering on our platform every day. Of these, 85% correspond to micro/nano businesses, individual entrepreneurs, and entrepreneurs, and the remaining 15% to consolidated companies,” told Riera.

The first country in Latin America to be targeted by fintech was Brazil, in 2016. Next came Chile, in 2019, and now it’s Colombia’s turn. Worldwide, the company has over 3.5 million partner merchants, and 2,300 employees globally. Currently, SumUp operates in more than 30 countries.

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“In the medium term, we hope to introduce other financial solutions such as online payments, virtual wallets, loans and, in the long term, consolidate ourselves as a digital bank,” Riera told the newspaper.

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