Swedish Startup Space

New iZettle investment builds on May Series C funding

Written by on July 9, 2014

Hasso Plattner Ventures joins in investing in the Series C round of funding, which was led in May by London based growth investor Zouk Capital with participation from Dawn Capital and Intel Capital, and Series A and B investors Greylock Partners, Index Ventures, Northzone and the Nordic financial services group SEB.

The additional funds bring iZettle’s Series C to €45 million ($61 million), and total investment capital raised since the company was started in 2011 to just over €85 million ($118 million). Investors in previous rounds have also included American Express, MasterCard and Banco Santander.

“There is no question that iZettle is already an international leader in mobile payments, and has the vision and viable business model to change an essential piece of the financial services industry,” said Hasso Plattner Ventures Partner, Shmuel Chafets.

iZettle will use the additional funds to continue growing existing markets and to initiate its services in more countries.

Four-year-old iZettle was the first to offer an easy way to take chip card payments using mini readers that transform smartphones and tablets into cash registers. Today, small businesses come to iZettle for tools to grow their business: from complete point of sale solutions, to free sales overview apps like reports and graphs to spot sales opportunities and identify loyal customers.

“Hasso Plattner Ventures’ contribution to our Series C is nothing short of fantastic,” said Jacob de Geer, iZettle co-founder and CEO. “The additional capital gives us the extra runway to ensure we can financially execute on our business plan and the experience and know-how they bring is guaranteed to be invaluable.”

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