Venture Capital Access Online | The eMarketplace for the Venture Capital Industry

 

Bookmark and Share   

Home

Marketplace
Database
Deals
News
Store
Resources
Contact Us

 

 

 

News

VCPro Database 2014 (17th Edition) Now Available! Newly released


Venture Capital Deals Spreadsheet Now Available Newly released


 

iZettle Raises €40 Million ($55.5 Million) Series C

Growth investor Zouk Capital is joined by Dawn Capital, Intel Capital and early investors Creandum, Greylock, Index, Northzone and SEB

STOCKHOLM, May 9, 2014-- iZettle, Europe’s No.1 provider of mobile payment services and apps, has closed a €40 million Series C funding. London-based growth investor Zouk Capital led the round, with participation from Dawn Capital and Intel Capital, and Series A and B investors Creandum, Greylock Partners, Index Ventures, Northzone and SEB Private Equity.

Investors in previous rounds included, American Express, MasterCard and Banco Santander. Nathan Medlock, a principal in Zouk’s Growth Capital Team will join the iZettle board.

iZettle will use the funding to continue growing 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.”

iZettle started in 2011, offering an easy way to take card payments using mini credit card 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.

“Building on its early successes in Europe, we’re excited about iZettle’s growth plans, and believe this round will give them the fire power required to execute on the next phase of expansion,” Medlock added, “At the core of Zouk’s investment thesis is the emergence of what we call resource intelligence: recognising that not only should we be doing more with less, but that resources, process and systems are more connected than ever. iZettle is a great example of this concept in action.”

Said Jacob de Geer, iZettle co-founder and CEO: “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.”

iZettle takes just minutes to set up, and works with all major payment cards. With iZettle there’s no subscription, set up fee, monthly fee or minimum. Instead, iZettle merchants pay a small percentage of each transaction. iZettle then electronically deposits payments in the seller’s bank account.

Sweden’s Financial Supervisory Authority regulates iZettle, whose services are EMV (Europay, MasterCard and Visa) approved and compliant with the Payment Card Industry Data Security Standard (PCI DSS).

In addition to Mexico and Brazil, the iZettle app, Chip & PIN and Chip & Signature readers, and free business management software are now available in the U.K., Spain, Germany, Sweden, Denmark, Norway and Finland.

In a recent Tech5 competition by technology focused media company The Next Web, iZettle was ranked one of the three fastest growing companies in Europe.

Contact:
iZettle
Gemma Griffiths
+44-(0)7545-768-602


News Index

Venture Capital Database

Venture Capital Deals Spreadsheet

 

 NEWS

Latest VC News
VC News Archive
News Search
Venture Capital Deals New
RSS News Feed

List Your Firm

Entrepreneurs
Investors
Advisors

Venture Capital Database

VCPro Database
Download Trial
Buy Now

Venture Capital Deals

vcaDeals
Download Sample
Buy Now

VC Tools

Venture Capital StarterPak
VC Pitch
Private Placement Memorandum
Confidentiality Agreement Package
Series A Preferred Term Sheet
Bridge Financing Contract
Employment Agreements
Understanding Employee Stock Options

Business Plan Tools

Free Business Plan Template
Sample Business Plans
Business Plan Pro

 

 

Copyright © 1998-2014 Access InterComm  All rights reserved. 
Site Map | Privacy Statement | Legal Notice & Disclaimer