Mobile POS provider iZettle completes funding round
Mobile point-of-sale provider iZettle has raised 60 million euros ($63 million) in funding and appointed a new chief financial officer, Maria Hedengren, according to a company press release.
The latest round of funding comprises equity from existing investors in a Series D extension as well as debt funding from U.S.-based Victory Park Capital via its credit fund, VPC Speciality Lending PLC, the release said. The company said it will use the funds to enhance its offering to ensure that it continuously innovates and supports the needs of small businesses in Europe and Latin America.
"We have been following the impressive growth of iZettle since its inception," Gordon Watson, partner at Victory Park Capital, said in a statement. "IZettle is an innovator and a clear market leader in Europe and we want to be part of its next chapter of growth; 2017 promises to be a vibrant and buoyant time for both iZettle and its market."
In addition to the funding, iZettle appointed Hedengren as CFO to lead preparations for the processes and financial plans required to take iZettle into its next phase.
Formerly CFO of the publicly listed NetEnt AB, a platform and games provider for some of the world's largest casino and sports betting operators, Hedengren has more than 20 years' leadership experience at private and public companies.