iZettle, the social payments startup out of Sweden, today announced it has received €8.2 million ($11.2 million) in Series A funding led by Index Ventures with co-investor Creandum and further investment from Charles Dunstone, CEO and Co-founder of The Carphone Warehouse. Rumors at the end of August said that a €10 million investment would be announced soon.
According to iZettle, the young company will use the fresh capital to expand into chip-card markets outside of Sweden as well as support the development of the iZettle sevice, which enables anyone to take credit or debit card payments anytime and anywhere.
iZettle’s free iPad, iPhone and iPod touch app and mini chip-card reader launched in Sweden in August 2011 and became an instant hit in the App Store; It rocketed to number one in the finance category and number four in the overall App Store. Find out more about iZettle’s service of Mobile card payments and check out their latest promotional video.
iZettle is based in Stockholm and was founded in April 2010 by serial entrepreneurs Jacob de Geer and Magnus Nilsson.