20 September 2017
Find out more

IZettle eyes IPO

06 July 2017  |  9891 views  |  0 iZettle1

Having doubled revenues and slashed losses last year, Swedish mPOS outfit iZettle says that it is preparing for a potential IPO.

Launched in 2011, iZettle quickly established itself as the Square of Europe, helping small businesses accept card payments through their mobile phones.

The firm has since moved deeper into the merchant value chain, offering tools to take payments, register and track sales and to get funding.

It now operates in 12 markets in Europe and Latin America, with 1000 small businesses signing up every day.

This rapid customer acquisition helped the company increase revenues to SEK643 million (EUR66.8 million) last year, up from SEK402 million (EUR41.7 million). Although the firm remains some way off turning a profit, losses decreased by 23% to SEK228 million (EUR23.7 million).

In January the company closed a EUR60 million financing round, taking its total funding to around EUR200 million. Now CEO Jacob de Geer is looking to list.

"We see a huge market potential as tens of millions of small businesses are still being underserved by traditional financial players. Going forward our focus continues to be building a world class company and preparing the company for a potential IPO," says de Geer.
KeywordsEFTPOS

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Sweden's iZettle raises €60 million in funding

Sweden's iZettle raises €60 million in funding

11 January 2017  |  4778 views  |  0 comments | 9 tweets | 5 linkedin
IZettle acquires Scottish point of sale app intelligentpos

IZettle acquires Scottish point of sale app intelligentpos

07 September 2016  |  4520 views  |  1 comments | 10 tweets | 1 linkedin
IZettle moves into small business financing

IZettle moves into small business financing

16 February 2016  |  8398 views  |  1 comments | 19 tweets | 11 linkedin
IZettle raises EUR40m

IZettle raises EUR40m

09 May 2014  |  6368 views  |  4 comments | 8 tweets | 7 linkedin
Banco Santander invests EUR5 million in iZettle

Banco Santander invests EUR5 million in iZettle

11 June 2013  |  7783 views  |  0 comments | 11 tweets | 4 linkedin
IZettle ships chip and PIN reader

IZettle ships chip and PIN reader

20 February 2013  |  13095 views  |  2 comments | 21 tweets | 10 linkedin
MasterCard joins EUR25m iZettle funding round

MasterCard joins EUR25m iZettle funding round

15 June 2012  |  12508 views  |  10 comments
Sweden's Square hits App store

Sweden's Square hits App store

19 August 2011  |  15281 views  |  4 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.capgemini.comvisit www.sibos.comvisit www.abe-eba.eu

Who is commenting?

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
10492 views comments | 23 tweets | 39 linkedin
Equifax hack: Visa and Mastercard flag 200k compromised credit cardsEquifax hack: Visa and Mastercard flag 200...
10302 views comments | 6 tweets | 17 linkedin
Dutch bank sentences teenage DDoS culprit to community serviceDutch bank sentences teenage DDoS culprit...
9142 views comments | 6 tweets | 3 linkedin
UAE banks pool cyber security dataUAE banks pool cyber security data
7619 views comments | 5 tweets | 4 linkedin
ING moves into digital wealth management with Scalable CapitalING moves into digital wealth management w...
7479 views comments | 14 tweets | 15 linkedin

Featured job

Find your next job