iZettle raises $36M from Europe, earmarked for AI and other new tech

The company announced it has received €30 million ($36 million) funding from the European Investment Bank, the lending arm of the European Union. "We're proud to receive this stamp of approval from the EIB. It's the type of offer you can't refuse and it will allow us to further accelerate our growth and continue to level the playing field for small businesses, giving them access to tools to take on the big corporations," said Jacob de Geer, CEO and co-founder of iZettle, in a statement. The funding follows the startup's most recent round, which was earlier this year, when it raised $63 million at the same $500 million valuation it had in its last equity round. It appears the valuation is staying the same with this latest round: the money, as with earlier this year, is coming in the form of debt funding and will be distributed over the next three years, the company said.