Hasso commits €5m to iZettle’s series-C

The additional funds bring iZettle's series-C funding to €45m and the total investment capital raised since the company was started in 2011 to just over €85m.

The Swedish mobile payments firm will continue to grow in existing markets, as well as targeting other countries for further expansion.

Last week, Hasso led Swedish software firm Hansoft's second close of the company's earlier Creandum-led funding round, bringing the total to $10m.

Previous funding
London-based growth investor Zouk Capital led the €40m round in May. New backers Dawn Capital and Intel Capital, alongside existing investors Greylock Partners, Index Ventures, Northzone, Creadum and the Nordic financial services group SEB, also participated.

In July 2012, Greylock and Northzone led a €25m series-B round for iZettle. SEB, Mastercard, Index and Creandum also participated in the round, which was designed to support the firm's expansion across European markets that use chip cards as a standard payment solution.

In October 2011, Index and Creandum led an €8.2m series-A round for the company to boost its presence in the UK.

Company
Founded in 2010 and headquartered in Stockholm, iZettle takes chip card payments using mini readers that interact with smartphones via bluetooth. The company also provides point-of-sale solutions and free sales overview apps that work with all major payment cards. There is no subscription fee, set-up fee, monthly fee or minimum payment to use iZettle, which instead takes a small percentage of each transaction.

The Swedish Financial Supervisory Authority regulates iZettle. Its app and chip-and-pin/signature readers are available in Mexico, Brazil, the UK, Spain, Germany, Sweden, Denmark, Norway and Finland.

People
Schmuel Chafets is partner at Hasso Plattner. Jacob de Geer is iZettle co-founder and CEO.

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