Swedish fintech platform iZettle has made good on its promise to grow and innovate. Last year the platform secured €60 million funding round, which consisted of equity from existing investors in a Series D extension as well as debt funding from Victory Park Capital through its credit fund, VPC Speciality Lending PLC.
The Swedish mPOS outfit has officially launched an e-commerce marketplace for small business owners to sell their wares online. Priced at £29 per month, iZettle E-commerce lets small business owners set up and customize a new webshop or start selling across multiple channels online, including social media, blogs and existing websites. The online mall processes all major credit cards and online payments and supports PayPal transactions. Traders may have a full overview of in-store and online transactions and real-time inventory stocktaking in one place alongside actionable sales data.
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“Today’s consumers expect businesses to be present both offline and online, and half of iZettle’s users currently don’t have an online shop and the other half struggle with different complex online systems,” observed iZettle CEO and co-founder Jacob de Geer. “iZettle E-commerce solves these problems, helping small businesses find new customers and sell more – all from one place.”
The platform is now available in the UK and Sweden, and will be launching in Denmark, Norway, Finland, Germany, France and the Netherlands later this spring.
In addition, another Swedish fintech startup called Qapital is moving into the sector. The smart savings app, which has raised $30 million in funding to move into the robo advisory space, counted investors Swedbank Robur, Norron, SEB Stiftelsen, Athanase and Northzone in the round, bringing Qapital’s total funding to $47.3 million. According to Qapital, the robo-advisory service will follow the firm’s ‘set it and forget it’ approach to savings, providing an adjacent program for millennials to grow their savings pots to meet mid-term goals.