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iZettle announced its plans for IPO in the European Financial Technology Market

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iZettle announced its plans for IPO in the European Financial Technology Market
May 08
09:00 2018

The Swedish fintech start-up iZettle, involved in the development of digital payment technologies, announced its intention to enter the Stockholm Stock Exchange. The company plans to raise $ 227 million through the initial placement of securities on the stock exchange.

The representatives of iZettle expect that the listing in Stockholm will be completed this year with an estimated capitalization of $ 1.1 billion. An American financial holding JPMorgan Chase & Co and Carnegie will be coordinators of the deal.

To date, the Swedes are suffering losses. As of 2017, the company’s revenue was 89 million US dollars, in recent years the revenue growth exceeded 40%. According to the results of the reporting, the revenue growth has decreased by 3% for the first quarter of 2018. The planned IPO should change a financial picture.

The history of the fintech began in April 2010; then the company took on the development of the first application. Then, simplification and democratization of payments was the mission of the company. It should be noted that the goals turned out to be quite possible for the Swedes. So, iZettle owns the patent for making payments using smartphones. The next direction of the company development was the delivery of reading devices for bank cards to customers of different profiles. To date, the Swedish company serves about 400,000 customers and small enterprises in 12 countries. The geography is extensive: Brazil, Great Britain, part of Europe, Mexico and Scandinavia.


The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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