Sweden-based mobile payments company Izettle has closed a €40m ($55.1m) series C round led by private equity fund manager Zouk Capital and featuring Intel Capital.
Zouk and Intel Capital, the corporate venturing arm of semiconductor producer Intel, were joined by fellow new investor Dawn Capital, as well as existing investors Creandum, Greylock Partners, Index Ventures, Northzone and SEB Private Equity.
Izettle raised $31.4m in a 2011 series B round featuring payment services company Mastercard that later attracted an undisclosed amount of additional funding by payment services provider American Express. Financial services firm Santander invested a further $6.7m in 2013.
The company’s 2011 series A round raised about $15m from Index and Creandum.
Founded in 2010, Izettle develops services enabling mobile payment between both people and businesses. The company will invest the funding in continuing its growth in its existing markets, which comprise Mexico, Brazil and seven European countries, and to identify new geographic markets into which it can expand.