SumUp appoints new CEO for Europe

Michael Schrezenmaier has held a number of C-suite positions, including COO and co-CEO at his most recent company, Pipedrive

Merchant payments provider SumUp has appointed Michael Schrezenmaier as its new chief executive officer for Europe.

Schrezenmaier brings with him a founder’s mentality and a hands-on attitude, according to SumUp, a specialist in digital payments based in the UK, as well as being a perfect cultural fit for the company, which is notably diverse, in respect of markets served and its employees.

He held a number of C-suite positions, including chief operating officer and co-chief executive officer at his most recent company, Pipedrive, a customer relationship management provider. During his time there, the company achieved unicorn status.

Schrezenmaier previously worked at Spark Networks, the New York Stock Exchange-listed dating company, where he was chief operating officer and managing director for almost seven years.

He also held a number of management positions at Kuehne + Nagel, the logistics and supply chain company.

Commenting on his appointment, Schrezenmaier says: “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.”

“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.”

Marc-Alexander Christ, co-founder of SumUp, comments: “For SumUp to maintain positive momentum, we have to attract and hire the best people. Michael is a prime example of the type of person that will drive the company forward as we look to uphold our strong position in Europe—and deliver for our merchants.”

“The rate at which SumUp has grown, and is growing presently, is testament to our peerless employees and our loyal merchants, who drive our company’s success. Michael’s appointment exemplifies our approach and we are certain he will play a major part in future company success.”

SumUp has enjoyed a strong year, continuing to expand its services to become 360° payment provider to small merchants.

The fintech raised €750 million earlier in 2021. The raise involved Goldman Sachs, Temasek, Bain Capital Credit, Crestline and Oaktree Capital Management.

SumUp supports more than three million merchants today, operating with a team of more than 2,600 people, situated across 19 offices worldwide.

Image: SumUp

Mark Dugdale