In a strategic move to bolster its support for small and medium-sized enterprises (SMEs), Bulgarian-founded fintech company myPOS has announced the acquisition of UTP Group Ltd , a prominent UK-based payment solutions provider. This acquisition underscores myPOS’s commitment to delivering cutting-edge financial tools and services tailored to the needs of SMEs not only in the UK but across Europe.
While the financial details of the deal remain undisclosed, the acquisition positions myPOS to leverage UTP’s robust direct sales network and well-established client base. Backed by Advent, a leading global private equity investor managing $92 billion in assets, myPOS has consistently pioneered innovative payment solutions that empower businesses with real-time access to funds and scalable technology. The integration of UTP’s expertise will enable myPOS to accelerate its growth trajectory and expand its footprint in the UK market.
A Vision for Growth: Leadership Insights
Commenting on the acquisition, Mario Shiliashki, CEO of myPOS , stated:
“This acquisition is not just about market expansion – it’s about empowering UK SMEs with better payment solutions, stronger support and more growth opportunities. By combining forces with UTP, myPOS will deliver superior solutions faster, enabling businesses to grow and scale without high upfront costs. We are excited to empower local merchants and lay the foundation for long-term success in this key market.”
Founded in 2013, UTP has carved out a strong reputation in the UK market, offering a wide range of payment services including portable and countertop card machines, Tap-to-Pay functionality, ecommerce solutions, and flexible funding options. Headquartered in Reading, UTP has onboarded over 52,000 clients, further solidifying its standing as a trusted partner for businesses seeking reliable payment systems.
Michael Ault, CEO of UTP , expressed his enthusiasm about the partnership:
“Joining forces with myPOS is a great opportunity for UTP. Our team will have the chance to work with a leading fintech platform that’s well-positioned for future growth, backed by a growing European presence and a diverse suite of products. I am confident this partnership opens new opportunities to our robust sales team and our merchants, and I look forward to building on this momentum.”
Expanding Horizons: Recent Milestones and Growth Metrics
The acquisition of UTP is part of myPOS’s broader strategy to consolidate its position as a leader in the European fintech space. Earlier this year, the company acquired Toporder in France, further expanding its reach. Over the past year, myPOS has achieved remarkable milestones, growing its client base by 42% to serve 250,000 businesses. In 2024 alone, the company reported a 29% increase in turnover, reaching nearly €14 billion, with expectations of continued growth into 2025.
At the heart of myPOS’s success is its focus on affordability, scalability, and ease of use. The company provides SMEs with instant access to funds, real-time transaction insights via the myPOS app, and a seamless setup process that enables businesses to start accepting payments quickly and efficiently.
Backed by Industry Leaders
With Advent’s backing—known for its involvement in major payments buyouts such as Vantiv, Worldpay, XPLOR, Planet, and Nexi—myPOS is poised to continue revolutionizing the way SMEs manage their finances and scale their operations. This latest acquisition reinforces myPOS’s mission to empower businesses across Europe with the tools they need to succeed in an increasingly digital economy.
