Mobile payment company SumUp and business banking service Holvi today announced their partnership to better serve small businesses in Germany.
SumUp is the leading mobile point-of-sale (mPOS) company in Germany providing businesses an easy and affordable way to accept card payments. Holvi is banking for small businesses - an online business account, Holvi Business MasterCard card and paperless bookkeeping all attached to one account.
“Partnering with SumUp is the natural next step for us in Germany. Our customers are more and more looking for an easy way to accept card payments and we’re happy to provide them a cost effective alternative through SumUp” says Johan Lorenzen, Holvi CEO.
“Holvi is a modern banking service tailored for small business needs. The Holvi business account will allow our customers to focus on their core competences, which made them start their businesses in the first place.“ says Maximilian Stella, VP Business Development, SumUp.
The number of self employed people in Germany has increased by almost 40 % in the past 10 years, making this 1.34 million segment one of the most underserved segments by traditional banks and financial institutions.
The partnership between the two fintech companies provides a more cost effective path towards entrepreneurship without the traditional banking bureaucracy and unnecessary paperwork.