In Its Biggest Takeover Ever, PayPal Is Acquiring A Startup For $2.2 Billion
PayPal just clinched its biggest takeover ever. PayPal, a U.S based electronic payment company just acquired a small Swedish business commerce startup iZettle , — the Stockholm-based payments provider commonly referred to as the “Square of Europe”. A European startup that sells mobile credit card readers and other payment platforms, for $2.2 billion as announced in a blog post. iZettle was launched back in 2010 by Jacob de Geer and Magnus Nilsson in Stockholm. The startup was created with the aim of helping small businesses, and so far, it has reached out and empowered about half a million of merchants across 11 countries. Stockholm-based iZettle is one of Europe’s best known fintech companies. Serving nine countries in Western Europe, as well as Brazil and Mexico, iZettle offers financial products for small businesses, including payments through smartphones. The acquisition (the largest in PayPal’s history) comes only two weeks after iZettle announced its...