Technology

FinTech SumUp takes over Tiller to strengthen its offer for retailers

SumUp, the English nugget behind the small bank card reader box, seizes the French start-up Tiller, which offers services for traders and restaurateurs. The fintech announced this acquisition on Tuesday February 3, 2021 without specifying the financial details. They also do not specify whether all the people working at Tiller will be able to stay in the new organization.

Offer new tools to restaurateurs

SumUp is known for having developed a range of boxes, more compact and less expensive than traditional payment terminals, allowing payment by credit card. But the start-up is expanding its offer for traders. Going in this direction, it has already acquired start-ups such as Debitoor (accounting and invoicing), Shoplo (electronic commerce) and Goodtill (catering and hotel industry). SumUp has developed new products such as payment by link, invoicing solutions, new online sales functionalities and a POS (Point of Sale) solution with cash register software.

With Tiller, SumUp wants to strengthen its offer for restaurant owners. The young French startup has developed a set of tools allowing traders and restaurateurs to manage remote or on-site ordering, deliveries, reservations, inventory management and payment. But also the analysis of sales and costs. A solution that allows merchants to easily transit to online orders. A plus for this period of pandemic which led to the closure of restaurants.

The two start-ups want to combine their strengths and develop internationally, particularly in the restaurant sector. “We believe that we can together offer even more relevant products to retailers in the catering and hotel industry, and continue our strong growth in new markets”, commented Maximilian Stella, Vice President New Ventures at SumUp, in a statement.

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