SumUp appoints new CEO Europe, Michael Schrezenmaier

Source: SumUp

SumUp, a global leader in digital payments and based in London, today announces a new CEO Europe, Michael Schrezenmaier.

Schrezenmaier brings with him a founder’s mentality and a hands-on attitude, 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 COO and Co-CEO at his most recent company, Pipedrive, a leading CRM platform. During his time there, Pipedrive achieved unicorn status.

Pre-Pipedrive, Schrezenmaier cut his teeth at Spark Networks, the New York Stock Exchange listed dating company, where he was COO and Managing Director for almost seven years. He got his first proper taste of the global nature of business at Kuehne + Nagel, the logistics and supply chain behemoth active in over 100 countries, where he held a number of management positions in his four years there.

Europeans are often proud of what makes them unique from their neighbours, even those closest to them, and these regional differences carry into the world of business and affect our relationship with money - especially how we spend it, and on what. Schrezenmaier is uniquely plugged into these quirks having worked in multiple industries across Europe. As the continent looks forward as the pandemic slowly recedes, he sees merchants meeting new consumer preferences (contactless payment, fully integrated payment and financial solutions) as being key to continued success. This trend aligns with the vision at SumUp becoming a ‘one-stop shop’ for merchants.

Michael Schrezenmaier, comments: “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 another remarkable year, continuing to expand its services to becoming a 360 payment provider to small merchants, SumUp raised €750m earlier in 2021. The raise involved Goldman Sachs, Temasek, Bain Capital Credit, Crestline and Oaktree Capital Management. To date, it remains one of the biggest financings, for any startup (any privately-backed tech company) in the Europe region.

London-based with a global outlook, SumUp supports over 3 million merchants today, operating with an ever-expanding team containing more than 2,600 of the world’s best talent, situated across 19 offices worldwide.

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