iZettle is a company that provides the payment service via online app. This small company was founded in April 2010. In 2011, they launched their first app and service, which provide an innovative way for payment method. They use simpler and democratize payment system. With their system, the payment can be done faster and more transparent, which make their service become well-known, accepted and popular. iZettle provide service that helps many aspects in business, especially the small scale business. The company that becomes client of iZettle will get help in payment system, point of sales, partner application and funding needs. With the chip-card reader that iZettle developed and their app, the payment for mobile commerce becomes much easier to do.
And, last Tuesday, iZettle announced that they will launch an Initial Public Offering (IPO) on the NASDAQ in Stockholm. The decision to go public was made in order to raise the fund for their service. With this IPO, they plan to collect 2 billion Swedish Krona or around $226 million. The listing on NASDAQ in Stockholm will be finished this year, if the market condition supports the process.
According to Jacob de Geer, CEO of iZettle, this decision is one of big step in his company history, because it will decide the service that iZettle provide in the future. With millions of clients that they have the expansion phase that will be finished through the go public plan. When this plan is successful, there will be big benefits that this company will get. Mostly, the fund that they will get will become the supporting for the company growth. More than that, this will also strengthen their profile on the market, especially with merchant that become their main client. This plan is needed, in order to survive in today’s competition.
The service of iZettle itself is available for limited countries. Currently, they provide service for some Europe countries, such as France, Italy, Germany, Spain, Netherlands, Denmark, Sweden, Finland, United Kingdom and Norway. They also provide service for country outside Europe, which are Mexico and Brazil. So, with the fund they get from IPO plan, they will be able to provide their service for more countries in the world. And, maybe in the near future, they can really go global. This is actually possible, because the technology and system that support their service are easy to get and will become much better in the future.