Three Swedish pension funds back iZettle, citing sustainable growth

Swedish pension funds AMF and AP1 have invested EUR 20 million between them in Swedish fintech company iZettle, ahead of a possible IPO later this year. Buying their shares from a Santander venture capital fund, the deal comes hot on the heels of AP4’s first investment in the firm in December via iZettle’s latest funding round. The two national pension funds emphasise the sustainable growth angle of their investment.

The payment systems provider iZettle has attracted some major Swedish pension funds as investors.

Swedish mobile payments company iZettle, which was set up in 2010, now has three of the country’s biggest pension funds among its owners.

In mid-December, the firm announced that its latest funding round, which raised EUR 40 million, was led by early backer, venture capital firm Dawn, and the fourth of Sweden’s state pension buffer funds, AP4. Existing investors also put in new capital.

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