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Payments Firm IZettle Gets €30 Million in Debt From EIB

  • European Investment Bank wants to help small companies with AI
  • Rival to Square will work on new small-business products

IZettle AB, the Swedish payments company, is getting 30 million euros ($36 million) in debt funding from the European Investment Bank to create new products for small business.

The company, which provides terminals that allow small businesses to easily take card payments and also offers financial services, is a rival to Square Inc. in Europe.