iZettle is a company.
iZettle has raised $243.0M across 7 funding rounds.
Key people at iZettle.
iZettle has raised $243.0M in total across 7 funding rounds.
Key people at iZettle.
iZettle has raised $243.0M in total across 7 funding rounds.
iZettle's investors include AME Cloud Ventures, Dawn Capital, Hardware Club, Kleiner Perkins, Menlo Ventures, 83North, Acrew Capital, Acton Capital Partners, Ada Ventures, Balderton Capital, C4 Ventures, Company Capital.
Zettle by PayPal (formerly iZettle) is a Swedish fintech company that provides mobile point-of-sale (POS) solutions, including a mini chip card reader and app for smartphones, enabling small businesses to accept payments securely.[1][2][3] It serves small merchants underserved by traditional banks, offering tools for payments, POS, funding, and sales analytics to help them get paid, sell smarter, and grow in Europe, Latin America, and beyond.[1][2][4] The company solves the problem of accessible, affordable mobile commerce in a card-dominated market, with strong growth leading to its $2.2 billion acquisition by PayPal in 2018, after which it expanded as PayPal's in-store arm.[3][5]
iZettle was founded in April 2010 in Stockholm by Jacob de Geer and Magnus Nilsson, who aimed to "settle debts" easily via mobile tech—the name stylizes "I Settle."[1][5] De Geer continued as CEO post-acquisition.[3][5] They launched their first app and chip card reader in 2011 for iOS in Sweden, targeting a smart card-heavy market, followed by Android in 2012.[1] Early traction included Tech Europe's recognition as a top Stockholm startup, partnerships like Banco Santander's €5M+ investment in 2013 for European access, Visa Ready certification, and MasterCard approval.[1] Expansion hit Mexico in 2013 with local support, growing from 1 to 60 employees there, and further funding like $36M from the European Investment Bank in 2017.[1][6] By acquisition, it operated in 12 markets with 500+ employees and $113M revenue.[5][6]
Zettle rides the mobile payments and omnichannel retail wave, democratizing card acceptance for small businesses amid smartphone proliferation and cashless shifts, especially in emerging markets like Mexico and Brazil.[1][3][6] Timing was ideal: launching in 2011 capitalized on early mobile commerce needs in Europe/Latin America, pre-dating widespread contactless but ahead of competitors like PayPal Here.[5] Market forces favoring it include rising electronic payments adoption (e.g., educating Mexican merchants on cards), regulatory security standards it met first, and fintech demand for SMB tools.[1][6] As PayPal's "European center of excellence" for in-store, it influences the ecosystem by accelerating global POS integration, reducing silos, and empowering millions of merchants in 11+ markets toward unified online-offline commerce.[3][9]
Post-2018 acquisition, Zettle has evolved into PayPal Point of Sale, leveraging PayPal's scale for faster global rollout, backend efficiencies to cut losses, and new markets like the US.[3][4][5] Expect deeper AI-driven analytics, expanded funding/loans, and contactless/NFC enhancements amid rising mobile checkouts.[2] Trends like omnichannel retail, SMB digitalization, and LatAm growth will propel it, potentially evolving PayPal's influence by blending iZettle's in-store edge with online dominance—solidifying its role as the go-to for small businesses thriving against giants.[3][9] This builds on its founding mission, now supercharged for worldwide impact.
iZettle has raised $243.0M across 7 funding rounds. Most recently, it raised $47.0M Series E in December 2017.
