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UK FinTech SumUp Names Michael Schrezenmaier as CEO Europe

Global FinTech SumUp appointed Michael Schrezenmaier as its new CEO Europe, as the U.K. startup moves toward becoming a one-stop shop for merchants, the company said in a press release emailed to PYMNTS.

Headquartered in London and launched in 2011, SumUp offers merchants point-of-sale (POS) and other digital payment solutions, enabling businesses to accept card payments online and in-store.

Schrezenmaier has served in several C-suite positions, including COO and co-CEO at the CRM platform Pipedrive, which achieved unicorn status under his leadership. His hands-on approach and founder’s mindset align with SumUp’s diverse culture and myriad markets, the company said.

See also: SumUp Taps Google Pay for Merchants to Spend POS Proceeds

Before Pipedrive, Schrezenmaier was COO and managing director at the publicly listed global dating firm Spark Networks. He also held several management posts at the logistics and supply chain company Kuehne + Nagel.

“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,” Schrezenmaier said. “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.”

Earlier this year, SumUp raised EUR750 million ($873 million) in an over-subscribed funding round in March, with investments from Goldman Sachs, Temasek, Bain Capital Credit, Crestline and Oaktree Capital Management.

See also: London FinTech SumUp Notches $893M for Expansion

Marc-Alexander Christ, co-founder of SumUp, said Schrezenmaier’s appointment is part of the company’s drive to “maintain positive momentum” by attracting outstanding talent. He pointed to Schrezenmaier as someone who will steer the company in the right direction to “uphold our strong position in Europe — and deliver for our merchants.”

SumUp works with more than three million merchants in 34 markets across Europe, the U.S., Brazil and Chile. The company’s workforce has 2,600 employees across 19 offices around the globe.

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