Polish private equity firm MCI Management invests in iZettle


iZettle, the Swedish fintech company that offers merchants across Europe and Latin America the ability to process card payments via its mobile card readers, has another new investor.

Warsaw-based private equity and venture capital firm MCI Management has invested in iZettle, just months after the latter landed €60 million in funding from Intel Capital, Zouk Capital, Creandum, Dawn Capital, Index Ventures, Northzone and 83North.

Update: iZettle have since clarified that MCI Management invested in the €60 million round, and that this is not an additional investment. The headline has also been changed to reflect this.

iZettle thus becomes the latest fintech investment in the MCI portfolio (after UK-based mobile remittance business Azimo and Polish e-payments business eCard), with more projects in the pipeline according to the investment firm.

The size of MCI's investment in iZettle was not disclosed.

The fresh cash allows iZettle to expand its current business, and will also be deployed towards their new service iZettle Advance, a financial service giving clients advances on future card sales.

Also read:

Euro fintech company SumUp raises another €10 million from American Express, Groupon and BBVA

Mobile point-of-sales startup SumUp expands to Sweden, landing on rival iZettle’s home turf

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