Sweden's iZettle raises EUR 60 mln, names new CFO

Wednesday 11 January 2017 | 16:18 CET | News

Swedish electronic payment services provider iZettle said that it has raised EUR 60 million in funding and appointed Maria Hedengren as chief financial officer (CFO). The funding is made up of equity from existing investors in a Series D extension as well as debt funding from US-based Victory Park Capital via its credit fund, VPC Speciality Lending. The funds will be used to expand iZettle’s service through innovation.

Victory Park Capital partner Gordon Watson said the fund has been following iZettle’s growth since its inception. He said iZettle is an innovator and a clear market leader in Europe, adding that 2017 promises to be a vibrant and buoyant time for both iZettle and its market.

Hedengren joins iZettle from a position as CFO of NetEnt, a platform and games provider to some of the world’s largest casino and sports betting operators. She has more than 20 years’ experience leading both private and public companies and a track record of scaling companies internationally.

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