iZettle raises EUR40M in funding

iZettle has announced it has closed a EUR40 million Series C funding.

Investors in previous rounds included, American Express, MasterCard and Banco Santander. Zouk Capital led the Series C round, with participation from Dawn Capital and Intel Capital. Nathan Medlock, a principal in Zouk’s Growth Capital Team will join the iZettle board.

With the funding, iZettle will use the money to continue growth in existing markets as well as identifying new potential territories for expansion.

“Using a card for payment is second nature to all of us, so it remains extraordinary that millions of small companies and traders are still locked out of this system by their size,” said Medlock. “iZettle gives this huge market the ability to accept card payments, helping smaller enterprises save time, paper and energy while professionalising their operations.”

Jacob de Geer, iZettle co-founder and CEO, said: “Small businesses are the lifeblood of the global economy. Our mission from the start has been to democratize and simplify payments around the world to help small businesses grow their business.”

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