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iZettle, a member of the PayPal family, is on a mission to help small businesses succeed in a world of giants. Founded in Stockholm in 2010, the financial technology company revolutionised mobile payments with the worlds first mini chip card reader and software for mobile devices. Today iZettles commerce platform for small businesses in Europe and Latin America provides tools to get paid, sell smarter and grow your business.
iZettle was acquired by Paypal in May 2018, it is a mobile payments company based in Stockholm, Sweden and markets a single application and service called iZettle. The company offerings include everything from credit card readers to complete point of sale solutions and free sales overview tools. Currently, it operates in 10 locations in Europe and Latin America region. (Dec. 2017)
Cloud-based POS solution provider for business merchants. The company offers various products and services including: iZettle POS: It is a POS system that supports card, mobile and invoice. With iZettle’s app merchants can analyze credit card transactions and relay detailed information, i.e. top selling products and average payment volume. iZettle card reader: It a hardware device that allows customers to accept both credit cards and contactless payments. iZettle Invoice: It enables small business owners to create and send invoices with just a few clicks, get paid faster and skip the hassle of manual administration and payment reminders. iZettle Cash advance: It provides advance cash facility for businesses to grow.
The company generates revenue from different channels: 1. It charges fixed transaction fee: a) Card reader: 1.75% b) Invoice transaction fee: 2.5% and c) It provides different slab rates for business based on their monthly transactions volume. 2. It offers monthly plans: a) Basic plan (Go): £0/month b) Premium plan (Go PLUS): £20/ month and c) It offers customized plans for businesses with a monthly turnover above £25,000. 3. It charges a one time fixed fee for cash advance services. 4. It earns money by selling card readers.
The third party sources claims the company valuation goes up to $950 Mn in the latest round. (Dec 2017)
$5.0M - $9.99M in 2016
The company earns revenue $76.3 M and it increases 60% revenue growth year on the year 2015. (July 2017)
In September 2016, iZettle acquired Intelligentpos to expand from mobile payments to broaden their suite of products within commerce solutions.
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