Swedish mobile point of sale company iZettle has raised about $80 million in funding, in part from U.S. investors.
The round includes debt funding from New York-based Victory Park Capital, and will be used to help pay for technology expansion and an acquisition of Scottish startup Intelligentpos. iZettle also appointed Maria Hedengren as CFO. Hedengren served in the same position at gaming company NetEnt.
iZettle did not immediately respond to a request for comment. In an interview on CNBC, iZettle CEO Jacob de Geer said the company is adding other services to its existing mobile point of sale technology to address the need to diversify in a competitive marketplace. He also said the company was planning its "next step" for the next 18 to 24 months.
An iZettle logo sits on the wall of the iZettle AB headquarters in Stockholm, Sweden, on Friday, Aug. 28, 2015. Swedish payments startup iZettle AB, a rival to Twitter Inc.founder Jack Dorsey's Square Inc., raised 60 million euros ($67 million) to expand in Europe and fund a plan to offer merchants cash advances on future card sales. Photographer: Johan Jeppsson/Bloomberg
Johan Jeppsson/Bloomberg
Intelligentpos allows iZettle to deliver management tools to restaurants and other types of merchants, enabling them to optimize table turnover, inventory and back office planning.
iZettle's CEO mentioned his industry was undergoing consolidation, and added the IPO market is heating up. He did not confirm plans to go public, nor did he discuss an expansion to the U.S. market or acquisition plans.
Square, the most recognizable mobile point of sale company in the U.S., has entered a series of collaborations to broaden its product mix and merchant reach. iZettle would need to find the a "strong distribution partner" for a move to the U.S., de Geer told CNBC.
A district court has agreed to halt compliance with the Consumer Financial Protection Bureau's Biden-era open banking rule while the Trump administration pursues its own rule.
The Federal Open Market Committee is expected to announce guidance on the end of its quantitative tightening program later Wednesday. As that process draws to a close, experts are questioning when and how the central bank should use its balance sheet to smooth economic stress in the future.
The Consumer Financial Protection Bureau is rescinding two rules issued under former CFPB Director Rohit Chopra that required nonbanks to register court orders, plus terms and conditions of contracts.
The payments giant had a "better than expected" fiscal fourth quarter, and said it expected that momentum to carry through the holidays. It's also looking forward to tailwinds brought by the Olympics and the FIFA World Cup in 2026.
Brian McEvoy, chief retail banking officer at Webster Five in Central Massachusetts, says community banks are in a unique position to serve more small businesses. He was a speaker Tuesday at American Banker's 2025 Small Business Banking conference.
