iZettle, the leading small business commerce platform in Europe and Latin America, today announces it has raised €40 million in funding to accelerate its growth strategy and product innovation. The round is led by early backer venture capital firm Dawn and The Fourth Swedish National Pension Fund and is supported by existing investors.
“iZettle is currently in an extensive expansion phase and is in an unique position to make a difference for millions of small businesses. Through today’s announcement we’re able to allocate additional resources in order to accelerate our ambitious growth plan and product innovation. I’m proud to welcome such renowned, long-term investors to the iZettle family.” says Jacob de Geer, co-founder and CEO of iZettle.
The Swedish company revolutionised mobile payments in 2011 and has rapidly moved beyond payments to become a small business commerce platform, offering small businesses tools to take payments, register and track sales and to get funding. Today, iZettle is one of Europe’s fastest growing companies present in 12 markets in Europe and Latin America.
“iZettle gives small businesses the digital tools they need to gain the competitive edge against big corporations, which is crucial in today’s technology driven market place. The company is a true disruptor and we are delighted to be co-leading the round in one of Europe’s signature fintech businesses, as it continues its expansion drive.” says Josh Bell, General Partner at Dawn.
“We invest heavily in companies contributing to sustainable economic growth and are impressed by how iZettle has levelled the playing field for small businesses. We believe in iZettle’s long-term development opportunity through their data-rich technology platform, built for scalability combined with five years of unique insights about the needs of small businesses, which makes it an attractive investment case.” says Per Colleen, Head of Fundamental Equities at The Fourth Swedish National Pension Fund.
iZettle is on a mission to help small businesses succeed in a world of giants. Based in Stockholm, the financial technology company revolutionized mobile payments in 2011 with the world’s first mini chip card reader and software for mobile devices. Today, iZettle’s small business commerce platform provides tools to take payments, to register and track sales and to get funding. Join the iZettle small business community at iZettle.com.
Dawn is an early stage VC firm run by entrepreneurs and investing in startups across Europe. It supports SaaS and Fintech companies that develop world-leading technology to improve business value chains and productivity. Dawn Capital typically invests between £2 million – £5 million in companies that are expanding internationally and are looking for operational support and capital. Dawn Capital’s portfolio companies include Showpad, Collibra, Gelato Group, iControl, Mimecast, Neo Technology, and iZettle, with many others looking to join their rank.
About The Fourth Swedish National Pension Fund
The Fourth Swedish National Pension Fund (AP4) is one of five buffer funds in the Swedish pension system. AP4’s mission is trough the management of fund capital to maximize asset value over time, thus contributing to the stability of the pension system. AP4’s focus areas within Sustainability are Climate Change and Corporate Governance. As of June, 2017 fund capital amounted to SEK 348 billion. The capital consists of both equites, fixed income, real estate and alternative assets. www.ap4.se