Daniel Klein is Co-Founder and CEO of SumUp, a UK-based mobile payments startup that is revolutionizing the way small and medium-sized businesses drive payments. Having recently raised more than $ 895 million in its latest round of funding, SumUp is ready to build on its prominence in Europe, the United States, and Brazil by further expanding its global presence. Prior to founding SumUp in 2012, Klein gained extensive experience in the fintech industry through his involvement with the internet-centric payment service Moneybookers (or Skrill, as it has since been rebranded). If you’ve ever wondered what it takes to run one of the fastest growing startups in Europe, find out now as we discover ten things you didn’t know about Daniel Klein.
1. You are a veteran of the fintech industry.
Klein’s success with SumUp might be what propelled him to the world stage, but his history in the fintech industry stretches back years. In 2001, he and Benjamin Kullmann founded Moneybookers, the Internet-centric payment service that has since been renamed Skrill. Klein was instrumental in much of the company’s initial success. In just 6 years since its inception, it had grown to become one of the top three providers of electronic payment solutions in Europe. In 2010, it was ranked as the fastest growing private equity backed company in the UK. The company’s growth was fueled by a winning combination of online integration with brands like Facebook and Skype and early adoption by the online gaming community.
2. Has launched several startups
In addition to SumUp and Moneybookers, Klein has demonstrated his entrepreneurial spirit on several other occasions, most notably with the launch of Pure Energy Ventures Limited in August 2005. He continued to work with the company until it went public in 2016.
3. He founded SumUp in 2012.
In 2011, Klein conceived the idea for SumUp. A year later, he launched his new company to the public. Based in London, UK, the company aims to simplify the payment process by using proprietary hardware and mobile apps to enable businesses to accept card payments cost-effectively and securely, either at the point of sale or anywhere. Despite the simple premise of its mission statement, the revolutionary nature of SumUp’s offering has allowed the company to enjoy rapid growth. It now covers 15 markets, giving it the largest global presence of any mPOS company.
4. Has gotten some big name investors
Whether it’s your industry experience or SumUp’s value proposition that has proven to be the most compelling, who knows? Regardless, Klein has managed to attract an impressive roster of investors to SumUp’s door over the years, including American Express, BBVA Ventures, and Groupon. The list of partners you’ve purchased onboard is equally impressive, with companies like Bosch, Staples, DHL, ScrewFix, FirstData, and Freenow all jumping on the SumUp bandwagon.
5. You think you have an advantage over the competition.
SumUp is by no means the only company working in the field of payment solutions. iZettle, Payleven, PowaPOS, PayPal… the list goes on. So what gives you an edge over your competitors? According to Klein, it all comes down to SumUp’s unique business model. Speaking via tech.eu, Klein explained how, unlike other similar companies, SumUp tries to trust third parties as little as possible. Instead, it uses proprietary software and hardware to maintain end-to-end control of the entire payment system.
6. He’s an award winner
Considering that SumUp is less than a decade old, its growth rate has been phenomenal. Under Klein’s leadership, the company has expanded to include offices in the Netherlands, Germany, the United States, Denmark, Ireland, Ukraine, the United Kingdom, Luxembourg, Chile, Brazil, Bulgaria and Poland. Considering the speed of its global implementation, it is not too surprising to learn that Klein and SumUp earned the title of Fastest Growing Private Company in Europe at Inc. 5000 in 2018.
7. He’s a popular CEO
That Klein is capable of leading SumUp to success is obvious. But how popular is he with your team? Is it the kind of boss your subordinates fear or the kind of leader you inspire? Judging by his approval rating on Glassdoor, it appears to be the last straw. The CEO of SumUp enjoys a phenomenal 87% approval rating among his staff, and is praised by many of the site’s users. “The CEO is …