€45 million of the funding is coming in the form of debt from Victory Park Capital. The remaining €15 million comes from existing investors. Jacob de Geer, the founder and CEO said “Part of this will be used for acquisitions,”
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 markets where it’s already live. iZettle today is live across 10 countries in Europe, as well as Brazil and Mexico. “Part of this will be used for acquisitions,” he said. “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.