January 11, 2017
By Jim Daly
Stockholm-based mobile-payments technology provider iZettle AB, which operates in Europe and Latin America, reported Wednesday that it raised €60 million ($63 million) in a new funding round in which an affiliate of Chicago-based Victory Park Capital participated.
The financing consists of equity from existing investors in a Series D extension as well as debt funding from Victory Park Capital’s credit fund, VPC Speciality Lending PLC. The funds will be used to further grow iZettle’s products and services for small businesses in Europe and Latin America, iZettle said in a news release.
“We have been following the impressive growth of iZettle since its inception,” Gordon Watson, a partner at Victory Park Capital, said in the release. “IZettle is an innovator and a clear market leader in Europe and we want to be part of its next chapter of growth. 2017 promises to be a vibrant and buoyant time for both iZettle and its market.”
IZettle also announced that it appointed Maria Hedengren as chief financial officer as part of its expansion. Hedengren had been CFO at Sweden-based NetEnt AB, a large distributor of online casino games and platforms.
Last year U.S. and Canadian iPad point-of-sale services provider TouchBistro integrated with iZettle in order to expand into Europe.
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