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Swedish IPO candidate iZettle to receive EUR 30 mln in EIB debt funding
September 19, 2017 / 7:18 AM / a month ago

Swedish IPO candidate iZettle to receive EUR 30 mln in EIB debt funding

STOCKHOLM, Sept 19 (Reuters) - Swedish mobile payment solutions firm iZettle, which is eyeing a stock market listing, will receive 30 million euros in debt funding from the European Investment Bank (EIB) in the coming three years, the company and the bank said in a joint statement.

* Says funds are earmarked for research and development within four areas including artificial intelligence

* “It will allow us to further accelerate our growth and continue to level the playing field for small businesses, giving them access to tools to take on the big corporations,” iZettle CEO Jacob de Geer says in the statement

* Swedish online news outlet Breakit reported in August, citing sources, that iZettle had appointed banks to handle its planned IPO and that the financial technology company could be valued at more than 10 bln SEK in an IPO (Reporting by Anna Ringstrom; editing by Niklas Pollard)

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