iZettle, a Stockholm, Sweden-based provider of mobile payments solutions, raised €60m in a Series D extension and debt funding.
The funding was made up of equity from existing investors and in debt funding from US based Victory Park Capital via its credit fund, VPC Speciality Lending PLC.
The company intends to use the funds to further grow its offering.
Led by Jacob de Geer, founder and CEO, iZettle provides mobile payment tools for small businesses including point-the of-sale app and card reader. During 2016, the company has moved into new areas, adding loyalty features and further bolstering its offering via the acquisition of intelligentpos, a UK cloud based point of sale provider, to create a “one-stop-shop” for commerce in store and on the go.
In addition to the funding, iZettle has appointed Maria Hedengren as CFO to lead preparations for the processes and financial plans required to take iZettle into its next phase. Hedengren has more than 20 years experience leading both private and public companies and a proven track record of scaling companies internationally.