American Express Invests In iZettle
iZettle is a Square-like competitor based in Europe and they have expanded their Series B round of 25 million euros in funding ($31.4 million). iZettle plans to use the funding for product development and expansion into new markets. iZettle announced on their website that American Express is joining the company as an investor as the second credit card company to participate in the Series B funding round. Mastercard is also an investor. Other Series B investors include Greylock Partners, Northzone, SEB Private Equity, Index Ventures, and Creandum.
Visa is not an investor in iZettle and they dropped compatibility with iZettle last July. Visa is an investor in iZettle’s United States competitor, Square. However iZettle has “positive dialogue with Visa Europe”
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry