Mobile Payments Startup iZettle Expands Series B Of $31.4 Million, Adds American Express As Newest Investor As It Preps Launch In UK

Today iZettle, one of the several Square-like mobile payments companies in Europe, announced that it was expanding its Series B round of €25 million and adding American Express as its newest investor. iZettle and AmEx are not disclosing the value of the new investment. It is joining Greylock, Northzone, MasterCard, SEB Private Equity in the round, which was originally €25 million ($31.4 million).

Series A investors in iZettle included Index Ventures and Creandum. The expansion of the Series B is a sign of how competition in the mobile payments world continues to heat up and those looking to make headway are ramping up their financial positions to meet the demand.

iZettle says it will use the funding for product development and expansion into new markets.