The company reported in 2015 revenue of 345 million Swedish crowns (USD 40 million), against 190 million crowns in 2014. The operating loss increased slightly to 258 million crowns, against 228 million crowns in 2014.
iZettle was established in 2010 aiming to offer small businesses and individuals a way to take payments using mini credit card readers that turn smartphones or tablets into cash registers. In 2015 the company added France as a new market and launched new products such as iZettle Advance, a loan service for small businesses. The company employs 275 people and is present in 12 markets in Europe and Latin America.
Its rival Square, a US mobile payments company that also offers a credit card reader, increased revenue by about 50 percent to USD 1.3 billion in 2015. Smaller Swedish rival iZettle has raised 140 million euros (USD 155 million) of funding to date from investors including Intel Capital, Northzone, American Express, Index Ventures and Banco Santander, according to uk.finance.yahoo.com.
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