iZettle raises €60 million and appoints new CFO
Funds to fuel expansion of product offering and prepare the company for next stages of growth
Senior executive Maria Hedengren brings more than 20 years of experience from global finance and business management
iZettle, one of the fastest growing technology companies in Europe and EMEA, today announces it has raised €60 million in funding and appointed a new Chief Financial Officer (CFO), Maria Hedengren.
The latest round of funding is made up of equity from existing investors in a Series D extension as well as debt funding from US based, Victory Park Capital via its credit fund, VPC Speciality Lending PLC. The funds will be used to further grow iZettle’s offering to ensure it continuously innovates and keeps supporting the needs of small businesses in Europe and Latin America.
“We have been following the impressive growth of iZettle since its inception. iZettle is an innovator and a clear market leader in Europe and we want to be part of its next chapter of growth. 2017 promises to be a vibrant and buoyant time for both iZettle and its market,” said Gordon Watson, Partner at Victory Park Capital.
In addition to the funding, iZettle has appointed Maria Hedengren as CFO to lead preparations for the processes and financial plans required to take iZettle into its next phase.
Formerly serving as CFO of the publicly listed NetEnt AB (publ), a platform and games provider to some of the world’s largest casino and sportsbetting operators, Hedengren has more than 20 years experience leading both private and public companies and a proven track record of scaling companies internationally.
“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,” says Jacob de Geer, founder and CEO of iZettle. “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”.
The past year has seen iZettle move into new areas, adding loyalty features and further bolstering its offering via the acquisition of intelligentpos, the UK’s leading cloud based point of sale provider, creating a ‘one-stop-shop’ for commerce in store and on the go for growing businesses.
For more information, please visit izettle.com.