European mobile card payments processor iZettle, raised $67m in Series D financing led by Intel Capital and Zouk Capital LLP. iZettle's move allows use of existing customer knowledge to grant those small merchants access to loans they couldn't easily receive from banks. Customer retention also remains strong as merchants will most likely maintain payment processesing with their loan provider. The funding is intended for growth in existing markets; potentially US as well.
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iZettle gets $67m to expand from mobile payments to small business financing
The Series D investment will also be used for “continued growth” focused on iZettle’s existing products. “The market is far from saturated,” argues de Geer. “We have a great position in the European space and also LatAm that we can grow significantly in all the markets where we current play. There are also new markets. We’re currently in nine markets in Europe. There’s still a few to cover.”
