Paypal acquires Swedish fintech startup iZettle for $2,2 billion

PayPal has agreed to acquire iZettle, a leading provider of mobile payment infrastructure across Europe and Latin America, for $2.2 billion. The deal happened just before iZettle was set to go public on Nasdaq Stockholm. The IPO will now be cancelled. With iZettle, Paypal will have access to hundreds of thousands of brick-and-mortar retailers. By joining forces with PayPal, which operates in 200 countries, iZettle will be able to accelerate its international expansion, including to the U.S.

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