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SumUp buys Lithuanian fintech Paysolut
Payment service provider SumUp has acquired Lithuanian mobile banking startup Paysolut for an undisclosed sum.
SumUp operates in 32 markets, serving more than 3 million corporate customers. SumUp has worked with Paysolut as business partner in Lithuania for the past two years, making the acquisition a natural extension of the partnership.
“As a provider of core banking solutions designed to empower growing businesses, Paysolut is a natural fit in terms of SumUp’s acquisition strategy,” the companies said in a statement.
Becoming part of SumUp will help Paysolut expand its highly qualified team and offer a new level of quality products. In terms of Paysolut’s future, SumUp intends for the company to run its business as usual.