iZettle, the social payments startup from Sweden, has today announced it has received around €8.2 million ($11.2 million) in Series A funding led by Index Ventures with co-investor Creandum, as well as further investment from Charles Dunstone, CEO and Co-founder of The Carphone Warehouse. Rumours at the end of August said that a €10 million investment would be announced soon.
iZettle is based in Stockholm and was founded in April 2010 by serial entrepreneurs Jacob de Geer and Magnus Nilsson. 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, 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:
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