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SumUp grew by 1200% in Putumayo so far in 2022

SumUp grew by 1200% in Putumayo so far in 2022

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These results have a positive impact on financial inclusion indicators in the country thanks to the prominence of areas such as Arauca, Putumayo and Nariño, where the greatest growth was recorded.

At the end of the first half of 2022, the German fintech SumUp, an expert in digital financial solutions for small and medium-sized companies, doubled its growth in transactions and the volume of payments processed in Colombia compared to 2021, with more than 25,000 active businesses in the country. They expect to continue expanding their business in the country and triple their accumulated growth by the end of the year compared to the previous year.

“This first semester of the year has been stellar for the company, a fact that reaffirms our conviction and commitment to the Colombian market. We are optimistic about the future of the country and we will continue working to make life easier for micro, small and medium businesses, which are the ones that drive the national economy”, said Toni Riera, General Director of SumUp in Colombia.

According to the company, these good results are due to a clear portfolio strategy, a competitive price and a consistent brand campaign in mass media together with a Colombian celebrity, allowing the growth of the last three months to be multiplied by four compared to the first quarter of the year and fulfilling SumUp’s mission of promoting financial inclusion in the country.

“We are deeply moved not only to have achieved record growth figures, but also, in the process, to support entrepreneurs in remote areas of the country such as Arauca, Putumayo and Nariño to accept card payments, improve the competitiveness of their business and create well-being for their families and their communities,” added Riera.

And it is that according to the figures of the company the growth in these areas of the country was 1300% in Arauca, 1200% in Putumayo and 421% in Nariño on an already solid base in 2021. These areas have been an integral part of the history and strategy of the company, the same one that allowed it to place nearly 10,000 terminals on the market last year and, in turn, aspire to become a financing company with an ecosystem of solutions that includes deposit, savings and loans for small and medium businesses.

About SumUp

SumUp is a German fintech specialized in financial solutions that began its expansion in Colombia by offering its wireless dataphones with the promise of changing the relationship between small merchants and payment methods, allowing them to accept payments with debit and credit cards whenever and wherever they want, without regardless of its size or geographic location.


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