Masterclassing

iZettle Secures €60m, Hires a CFO

David Murphy

iZettle_Farmers_market_Reader_Visa croppedDigital payments firm iZettle has raised €60m (£52m) in a funding round that values the company at $500m. It has also appointed Maria Hedengren as its Chief Financial Officer (CFO), fuelling rumours of an IPO.

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. The company said the funds will be used to further grow its offering to support the needs of small businesses in Europe and Latin America.

Hedengren was formerly CEO of publicly-listed NetEnt AB, a platform and games provider to some of the world’s largest casino and sports betting operators. She has more than 20 years experience leading both private and public companies and a 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,” said iZettle founder and CEO, Jacob de Geer. “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."

In the past year, iZettle has added loyalty features to its platform and expanded its offering beyond payments with the acquisition last September of cloud-based point-of-sale company, Intelligentpos.