Zouk and Intel lead €60m series-D for iZettle

Participants in the round included Dawn Capital, Hasso Plattner Ventures, Greylock Partners, Index Ventures, Northzone, Creandum and the Nordic financial services group SEB.

The Financial Times cites sources close to the matter saying the latest round valued iZettle at upwards of €500m. Having raised €138.2m to date, the series-D is likely to have valued the company near the $1bn mark, bringing iZettle a step closer to the coveted "unicorn" status.

By way of comparison, company reviews website TrustPilot raised $73.5m earlier in 2015, at a valuation well on its way to $1bn according to unquote" sources.

The €60m series-D puts iZettle's round among the largest funding rounds of 2015 in the Nordic countries, surpassed only by TrustPilot, Verne Global's $98m series-D, and Spoitfy's recent $526m round.

The investment in iZettle should also be seen in the context of large later-stage funding increasing in popularity with VC-backed companies over the past 18 months.

In addition to the fundraising announcement, iZettle also launched its new iZettle Advance product, a payment system allowing users to borrow against their future payment-card sales.

Previous funding
After iZettle's series-A round in October 2011, where it raised €8.2m from Index Ventures and Creandum, the company collected €25m in a series-B funding round in June 2012, and a €40m series-C in May 2014, with a follow-on €5m investment in July 2014.

Company
Founded in 2010 and headquartered in Stockholm, iZettle provides card payment machines linked to mobile devices, as well as payments infrastructure and technology to SMEs.

The company operates across Europe, as well as in some South American countries.

According to publicly available information, iZettle posted a net loss of SEK 171m in 2013, from revenues of SEK 78m, though the company has claimed revenue growth in excess of 100% in the years since.

People
Jacob de Geer is the CEO and co-founder of iZettle.

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• Topics
• Nordics
• Expansion
• Technology
• Sweden
• Intel Capital
• Northzone
• Creandum
• SEB
• Greylock Partners
• Dawn Capital
• Index Ventures
• unq2015oct