IZettle acquires Scottish point of sale app intelligentpos
07 September 2016 | 4702 views | 1
Swedish mPOS vendor iZettle has made its first acquisition, buying Scottish startup intelligentpos for an undisclosed sum.
Launched three years ago with just £770,000 in angel funding, Edinburgh-based intelligentpos offers a cloud-based point of sale app for shops, bars and restaurants.
The acquisition sees iZettle move deeper into the retail value chain, allowing small businesses to take card payments and track inventory, run loyalty programmes and analyse customer spending patterns. It also provides it with a new recurring revenue stream, based on a software-as-a-service model.
Jacob de Geer, CEO and co-founder at iZettle says: “One year ago, iZettle broke new ground by offering small businesses hassle-free access to financing with iZettle Advance. Today, via the acquisition of the talented team and great product at intelligentpos, iZettle takes yet another step towards its mission of providing small businesses with a wide range of services and features that are critical to helping them grow and build their empires.”
The two firms have already an established relationship, providing a unified point of sale and payments experience for mutual customers.
One such is London cafe the Mae Deli. Tom Allerton, Mae Deli finance director, says: “We use iZettle and intelligentpos at our deli in central London. We needed an integrated system that was able to scale with our business. Using intelligentpos and iZettle we are able to easily monitor tables, stock, staff and take payments within one app, it’s these added tools that help us sell smarter.”