Focus Squarely On Europe, Mobile Payments Startup iZettle Gets $31.4M From Greylock, MasterCard & Moreby admin
Just days after releasing an API to integrate its payment platform into third-party apps, iZettle, known as the "Square of Europe" for its dongle-based iOS mobile payment system, has even more news: it has just completed a €25 million ($31.4 million) Series B round of funding as part of its bid to become the biggest mobile payments platform in the region. The round was led by new investors Greylock Partners and Northzone, with participation from other new backers, including the payment giant MasterCard and SEB Private Equity, and previous investors Index Ventures and Creandum.
The funding takes the total investment in the company to $46.7 million, and Jacob de Geer, iZettle’s co-founder and CEO, says it will be used for product development, and to continue to build out its mobile payments service in Europe — currently available in Scandinavia and trialling in the UK. "Our priority is to get the UK fully launched, and then look at other major markets like Spain, Italy, France and Germany to continue building up our transaction volume," he told TechCrunch in an interview. "We’re not interested in the U.S. They’re doing really well with Square and others."