Holvi teams up with SumUp to serve German SMEs

fintech insurtech wealthtech regtech ai cybertech esg news
fintech insurtech wealthtech regtech ai cybertech esg news

Finish banking service Holvi is partnering with mobile point-of-sale (mPOS) solution SumUp to serve small businesses in Germany.

Holvi, which was acquired by BBVA in March after raising $5.25m in funding, offers online banking and services for small businesses. By partnering with SumUp the company aims to provide its clients in the German market with SumUp’s mobile card-reading devices and software.

“Partnering with SumUp is the natural next step for us in Germany. Our customers are more and more looking for an easy way to accept card payments and we’re happy to provide them a cost effective alternative through SumUp” said Holvi CEO Johan Lorenzen.

For SumUp, which has taken on more than $44m to date from investors including Groupon and BBVA, the deal will allow it to offer additional business management services to its clients.

This partnership comes amid increasing competition in the European POS market as US player Square reportedly prepares to enter the space.

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