iZettle, a Stockholm, Sweden-based small business commerce platform, raised €40m in funding.
The round was led by Dawn Capital and The Fourth Swedish National Pension Fund with participation from existing investors.
The company intends to use the funds to accelerate its growth and product innovation plans.
Led by Jacob de Geer, co-founder and CEO, iZettle provided small businesses with payments tools including a mini chip card reader and software for mobile devices and then has grown to become a small business commerce platform, offering small businesses tools to take payments, register and track sales and to get funding.
The company is currently present in 12 markets in Europe and Latin America.