iZettle raises €60m in funding
Payments technology firm iZettle has raised an €60m in venture capitalist funding in a recent round.
The purpose of the cash will be to further develop the company in Europe and Latin America. In the past year iZettle has developed its product in the past year by adding loyalty features and acquiring the firm intelligentpos. They have also appointed a new CFO called Maria Hedengren.
Jacob de Geer, founder and CEO of iZettle says of the appointment: “Maria’s passion is gearing companies for growth and is exactly the type of person we need to get ready for the plans we have for 2017 and beyond. We are obviously impressed with the work that Maria has done for other fast moving tech companies, many of which live in heavily regulated environments like ours, and are more than excited by what she brings to the table.”
It strike me that its strange that iZettle, and other similar systems are in more widespread use in the UK. I’ve seen them at music festivals and craft fairs but their application is surprisingly low and the stranglehold of the traditional payment companies is strong. It doesn’t make much sense because the costs are so much lower with the new technologies.
I see them as much higher in cost unless you do a tiny amount of trade. The real rates paid to the traditional banks for any reasonable sized trader should always be lower than these systems.