WALLESS Assisted SumUp in the Acquisition of Paysolut

2021 02 02

WALLESS assisted SumUp, a leading financial technology company and the leading mobile point-of-sale (mPOS) company in Europe, in acquiring Paysolut, a Lithuanian core banking system provider. According to the representatives of SumUp, the acquisition will create stronger technology-based banking solutions.

SumUp is a leading financial technology company operating across 32 markets, including Lithuania. SumUp has been a business partner with Paysolut for the past two years, hence the acquisition became a natural extension of the partnership.

As both companies aim to grow and expand their services, becoming part of SumUp will help Paysolut enlarge its highly qualified team and offer higher-level quality products. No strategic or day-to-day changes in Paysolut’s operations are expected after the acquisition, and SumUp intends for the company to run its business as usual. From now on, SumUp will contribute additional resources to enable Paysolut to successfully expand its services.

In 2019, SumUp was granted an electronic money institution license by the Bank of Lithuania and has an office located in Vilnius, Lithuania.

WALLESS team consisting of Associate Partner Alina Makovska, Senior Associate Guoda Šileikytė, Associate Gabrielė Adomavičiūtė, Associate Greta Liutkutė, and Junior Associate Migle Jeremičiūtė assisted SumUp throughout the acquisition process.