Acquisition of POS Software Provider

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19.11.2020, 13:01

Acquisition of POS Software Provider

Global payment services provider SumUp has acquired POS software company Goodtill as it strengthens its value proposition and commitment to merchants operating in the restaurant and hospitality space.

The acquisition will see SumUp investing further into Goodtill’s team and products, and represents the latest in a series of strategic deals involving the company following its 2018 acquisition of accounting and invoicing solutions provider, Debitoor, and 2019 acquisition of e-commerce platform Shoplo. 

Both companies have participated in industry-wide efforts to future-proof the prospects of merchants and clients in the restaurant sector during the Covid-19 pandemic.

Goodtill offers mobile table service and online ordering. Its latest product, Goodeats, has already processed over 1 million collection and delivery orders providing hundreds of cafes and restaurants with the ability to sell to customers safely during lockdown.

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SumUp has also unveiled a host of new solutions and innovations this year to help businesses navigate the operating restrictions brought about by the COVID-19 pandemic, including the introduction of payment links & invoicing options, new online selling functionalities through the ‘SumUp Online Store’, and gift card collaborations with Google, Facebook and Instagram — solutions all designed to help business owners receive payments safely and continue trading in the face of uncertain economic circumstances.

Goodtill serves thousands of small and larger businesses, and venues, with notable clients including Uber Boat by Thames Clippers, Edinburgh Fringe, The SSE Arena Wembley, The Kia Oval, and Leicester City Football Club. The company processes transactions totalling over £500m per year, and has grown its SaaS revenues 100 per cent year on year for the past three years.

Maximilian Stella, Vice-President of New Ventures at SumUp, comments: “Having worked with the Goodtill team for many years as partners, we’ve been very impressed by their growth, product and company culture. As our conversations progressed, it became clear that our values and mission are closely aligned, and when the opportunity arose to bring the team on board, it became obvious it’s the right choice. 

“Together, we believe we can offer even greater products for merchants in the restaurant and hospitality space, and continue our strong growth.”

Goodtill co-founder, Oliver Rowbory, adds: For over five years, our aim has been to deliver the best point of service technology to forward-thinking businesses across the restaurant, events and hospitality sectors.

“We’re incredibly excited to be merging our talented team and expertise with SumUp in order to create an unrivalled offering for our clients and users across the world.”

Visit www.sumup.co.uk and www.thegoodtill.com for additional information.

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Staff Reporter

FMIndustry.com covers the latest news, trends and opinion from the facilities management (FM) and corporate real estate (CRE) sectors. The FM market is currently estimated to be worth USD 1 trillion annually and is projected to grow at a compounded annualised rate of approximately 5% between now and 2026.

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