Sweden's iZettle raises €60 million in funding

Sweden's iZettle raises €60 million in funding

Swedish mPOS firm iZettle has raised €60 million in funding and appointed a new chief financial officer.

The latest round is made up of equity from existing investors in a Series D extension as well as debt funding from US based, Victory Park Capital via its credit fund, VPC Speciality Lending PLC.

Stockholm-based iZettle has previously raised around €140 million, including a €60 million bounty in late 2015 to fund a move into small business financing.

The past year has seen iZettle deeper into the merchant value chain, adding loyalty features and further bolstering its offering via the acquisition of Scottish startup intelligentpos.

In addition to the funding, iZettle has appointed Maria Hedengren as CFO. Hendgren formerly served as CFO of publicly-listed games company NetEnt.

Jacob de Geer, founder and CEO of iZettle, says: “Maria’s passion is gearing companies for growth and is exactly the type of person we need to get ready for the plans we have for 2017 and beyond.”

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