Startups to Buy #4 — iZettle
Founded only 4 years ago, iZettle has quickly turned into a contender in the person-to-person mobile payments business. The company not only has a cool app but also a chip-card reader (similar to Square’s). But for the most part, the company’s footprint is only in Europe.
Last week, iZettle snagged a venture round of about $55.5 million from investors like Zouk Capital, Intel Capital (INTC), Greylock and Index. The company also raised money from notable strategic investors, such as American Express (AXP), MasterCard (MA) and Banco Santander (SAN).
With the capital, iZettle plans to ramp up its expansion in Europe. But the company also wants to get more aggressive in Latin America.
GOOG has tried to get traction in the payments space, but the results have been mixed. In other words, acquisitions will likely play a role — and iZettle could be a good option, in terms of its mature technology and customer adoption.
Tom Taulli runs the InvestorPlace blog IPO Playbook. He is also the author of High-Profit IPO Strategies, All About Commodities and All About Short Selling. Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities.