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Payments Startup iZettle Is Said to Be Open to Sale, Raises New Funds

Payments startup reveals $47 million funding round backed by Swedish Pension Fund

Swedish payments company iZettle AB is said to be open to a sale as an alternative to preparing for an initial public offering, in a so-called dual-track process, according to a person familiar with the company's plans.

The company, which provides terminals that allow small businesses to easily take card payments and also offers financial services, announced Wednesday that it has raised 40 million euros ($47 million) to fund growth. The round was led by existing investor Dawn and the Fourth Swedish National Pension Fund.