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iZettle picks up £20 million in new funding

Mobile payment provider iZettle has completed a €25 million (£20.2 million) round of new funding led by Greylock Partners and Northzone, with MasterCard and SEB Private Equity investing as well. Previous investors Index Ventures and Creandum have also participated.

iZettle turns an iPhone or iPad into a credit card terminal using a mini chip-card reader and app. It’s currently available in Sweden, Denmark, Finland, Norway and the UK. The new funds will be used to help introduce iZettle in additional markets, both in Europe and elsewhere in the world

Laurel Bowden from Greylock will be joining iZettle’s board of directors. She said “iZettle is the first and only company to develop an affordable chip-card reader and app for smartphone-based mobile commerce that meets all of the rigorous international security requirements. They’ve proved they’re ready to step up their game in this very complex and competitive industry.”

We spoke to iZettle CEO Jacob de Geer at Mobile World Congress in February. You can listen to the interview (which starts after around 12 minutes) via the built-in audio player below or by downloading the MP3 file.
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Author: The Fonecast
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