SumUp Acquires London-Based Goodtill to Expand Services to Restaurant and Hospitality Sectors
- E-Commerce , M&A Deals
- 19.11.2020 02:18 pm
Global payments service provider SumUp (www.sumup.co.uk) today is announcing it has acquired leading POS software provider Goodtill (www.thegoodtill.com) for an undisclosed amount, in a move that underlines SumUp’s long-term commitment to the growth and development of its restaurant and hospitality sectors.
The acquisition, which will see SumUp investing further into Goodtill’s team and products, is the latest in a series of strategic deals secured by SumUp to bolster its product portfolio, following the 2018 acquisition of Debitoor, for accounting and invoicing, and 2019 acquisition of Shoplo, for e-commerce.
In a year which has seen restaurants, venues, and hospitality businesses operating with limited capacities due to COVID-19 restrictions, SumUp and Goodtill have been at the forefront of industry-wide efforts to future-proof the long-term prospects of merchants and clients in these sectors.
Goodtill’s point of sale technology has meant that hospitality businesses have been able to adapt quickly during the pandemic, offering 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.
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% year on year for the past three years.
Maximilian Stella, VP 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.”
Oliver Rowbory, co-founder at Goodtill, comments: “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.”