iZettle secures €40 million to accelerate growth

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iZettle, the small business commerce platform in Europe and Latin America, today announces it has raised €40 million in funding to accelerate its growth strategy and product innovation. The round is led by early backer venture capital firm Dawn and The Fourth Swedish National Pension Fund and supported by existing investors.

“iZettle is currently in an extensive expansion phase and has a unique position to make a difference for millions of small businesses. Through today’s announcement we’re able to allocate additional resources in order to accelerate our ambitious growth plan and product innovation. I’m proud to welcome such renowned, long-term investors to the iZettle family.” says Jacob de Geer, co-founder and CEO of iZettle.

The Swedish company revolutionised mobile payments in 2011 and has rapidly moved beyond payments to become a small business commerce platform, offering small businesses tools to take payments, register and track sales and to get funding. Today, iZettle is one of Europe’s fastest growing companies present in 12 markets in Europe and Latin America.

“iZettle gives small businesses the digital tools they need to gain the competitive edge against big corporations, which is crucial in today’s technology driven market place. The company is a true disruptor and we are delighted to be co-leading the round in one of Europe’s signature fintech businesses, as it continues its expansion drive.” said Josh Bell, General Partner at Dawn.

“We invest heavily in companies contributing to sustainable economic growth and are impressed by how iZettle has levelled the playing field for small businesses. We believe in iZettle’s long-term development opportunity through their data-rich technology platform, built for scalability combined with five years of unique insights about the needs of small businesses, which makes it an attractive investment case.” says Per Colleen, Head of Fundamental Equities at The Fourth Swedish National Pension Fund.

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