Mobile payments terminal provider iZettle confirmed plans to raise SEK2 billion ($227 million) in an IPO in Sweden later this year, a move the company said would facilitate its continued growth.
iZettle supplies payment terminals primarily to small businesses across Europe and in selected countries in Latin America, including Brazil and Mexico.
It also offers a number of financial technology platforms including: point of sale terminal peripherals for mobile devices, app-payment and sales analysis software, and small merchant terminals able to accept payments from credit cards, mobile devices and bank transfers.
“We are still in an extensive expansion phase and are in a unique position to make a difference for millions of small businesses in the markets that we serve,” iZettle CEO Jacob de Geer (pictured) said.
“The IPO will provide us with improved access to capital markets to facilitate our continued growth and help us strengthen our profile with merchants, key business partners and in the fierce competition for talent.”
The IPO will include shares newly issued by the company and a proportion from existing investors, which bought stakes during the company’s various funding rounds.