Mobile payments venture iZettle has secured €60 million in Series D funding, led by previous investors Intel Capital and Zouk Capital. This takes its total investment to date to €147,400,000. It will use the cash to support the development and expansion of iZettle Advance which is gradually being made available throughout its European markets. The new offering enables customers to get an advance on card transactions, which is then paid back via a portion of those daily sales.
"Small companies have persistently been underserved by the traditional finance industry. We want small companies to thrive, and with iZettle Advance we're applying the exact same logic as when we started iZettle five years ago, and completely overhauled card payments acceptance for small businesses," says Jacob de Geer, iZettle's CEO and co-founder.
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