Friday, May 18, 2018

PayPal Acquires iZettle For $2.2 Billion

San Jose-based PayPal said on Thursday that it has acquired Swedish point-of-sale platform developer iZettle, in a deal worth $2.2 billion in cash. PayPal said it will use the acquisition of iZettle to expand its in-store presence. iZettle was venture backed by Intel Capital, Zouk Capital LLP, 83North, American Express Ventures, Creandum, Dawn Capital, Hasso Plattner Ventures, Hermes GPE Environmental Innovation Fund, Index Ventures, MasterCard, MCI Capital SA, Northzone, Santander InnoVentures and SEB Private Equity.