European MPOS player iZettle has received €5 million in backing from Banco Santander, the company announced Tuesday.
IZettle co-foudner and CEO, Jacob de Geer, said the funding will be used to assist in the Sweden-based company’s international expansion.
“We want to bring iZettle to the world, and to do that we must have strategic partnerships with the world’s leading banks,” said de Geer, “Our relationship with Banco Santander is central to our transition from local to multinational services.”
The release notes that Banco Santander is the largest financial group in Spain and Latin America, and that it possesses a “significant position” in the UK, Portugal, Germany, Poland and the U.S. as well.
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