iZettle raises $63M more at a $500M valuation to expand from mobile payments

iZettle raises $63M more at a $500M valuation to expand from mobile payments. The world of mobile payments continues to consolidate and mature, and today one of the leading players among European mobile payments startups has raised a significant round of money to help keep itself on top. On top of this, iZettle has appointed a new CFO, Maria Hedengren, who has quietly been with the company since last month, joining from online gambling specialist NetEnt. Jacob de Geer, the founder and CEO of the company, tells TechCrunch that about €45 million of the funding is coming in the form of debt from Victory Park Capital, the firm that has backed a number of other financial startups. We’ve confirmed with sources that iZettle’s valuation remains at $500 million as before. De Geer said that the idea behind the funding is to use it in part for acquisitions, particularly to continue expanding its business into more services beyond mobile payments across its markets (iZettle today is live across 10 countries in Europe, as well as Brazil and Mexico). “We’re looking at many different things. We have gone from being a mobile payments company to providing financial solutions for small businesses.” iZettle last year acquired intelligentpos to add inventory, loyalty programs and customer flow analytics to its platform. “European companies do have a slightly different approach when it comes to profitability and going public when compared to U.S. companies,” said de Geer. iZettle is an innovator and a clear market leader in Europe and we want to be part of its next chapter of growth.

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The world of mobile payments continues to consolidate and mature, and today one of the leading players among European mobile payments startups has raised a significant round of money to help keep itself on top. iZettle, the Swedish company that offers a card reader that works with your smartphone or tablet, plus a suite of financial services for the small businesses, is announcing that it has raised €60 million ($63 million) in new funding.

On top of this, iZettle has appointed a new CFO, Maria Hedengren, who has quietly been with the company since last month, joining from online gambling specialist NetEnt.

Jacob de Geer, the founder and CEO of the company, tells TechCrunch that about €45 million of the funding is coming in the form of debt from Victory Park Capital, the firm that has backed a number of other financial startups. The remaining €15 million comes from existing investors (there are 16 in all, including Intel, Index, MasterCard and American Express) and is an extension of the company’s Series D from 2015.

We’ve confirmed with sources that iZettle’s valuation remains at $500 million as before.

De Geer said that the idea behind the funding is to use it in part for acquisitions, particularly to continue expanding its business into more services beyond mobile payments across its markets (iZettle today is live across 10 countries in Europe, as well as Brazil and Mexico).

“Part of this will…

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