PayPal acquires iZettle

PayPal acquires iZettle
PayPal acquires iZettle

PayPal has announced the acquisition of Swedish payments firm iZettle,Specializing in financial matters for $ 2.2 billion.

The Swedish company was founded in 2010 by Jacob de Geer and Magnus Nelson, and became offering various financial services to small businesses, such as electronic payment systems, payment points, and financial partner applications.

The company expanded from Sweden to Finland, Denmark, Norway, the United Kingdom, Germany, Italy, Spain, France, the Netherlands, Mexico and Brazil.

IZettle is the most companies that deal with PayPal payment system through its various systems since 2015, According to the news, the acquisition talks lasted for years, the company's founder and CEO, Jacob de Geer, will be responsible for the company's division at PayPal.

The Swedish company completed the entry on the Swedish stock exchange a few days ago and was planning to raise $ 227 million from the process, which gives a hint on the interconnection of the two processes.

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