SumUp Goes Full Bank Mode: EU & UK Licence Applications Coming
Hey Digital Banking Fanatic!
SumUp, the FinTech best known for powering your favorite coffee shop’s card reader, is going bigger. Much bigger.
The company confirmed plans to apply for a full EU banking licence next year, with the UK to follow.
That means SumUp isn’t just chasing card payments anymore—it’s eyeing the big leagues: SME lending and full-service business banking.
With 4 million merchants already on its platform and fresh profits on the books, SumUp thinks it can outmaneuver traditional lenders by turning its rich payments data into smarter credit and banking products.
Or in other words: less red tape, more actual help for small businesses.
Spain, Italy, Poland… you’re on SumUp’s radar. And with a potential IPO also in prep, this is one to watch closely.
More digital banking stories you need to know are just below 👇 And I'll be back for more tomorrow!
Cheers,
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