Stockholm based mobile POS payment provider iZettle has raised a €40m Series D at a $950m valuation led by Dawn Capital and Fourth Swedish National Pension Fund.
Past investors into iZettle have included the Spanish banking giant Grupo Santander (whose backing fuelled iZettle’s move into Mexico and Brazil), American Express, MasterCard, Intel, Index Ventures, Northzone, 83North and Creandum, among others. De Geer said that iZettle has raised around €200 million ($235 million) in equity funding to date. De Geer declined to give any specific numbers on growth — citing the fact that iZettle will soon close accounts for the year and report numbers then in accordance with Swedish law. As a marker, however, the company noted a 60 percent rise in revenues in its last fiscal year and expected to narrow its loss year. In FY 2016 it had revenues of 643 million Swedish crowns ($76 million), up from SKr402 million in 2015; its net loss was SKr228 million versus SKr295 million in 2015.