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Square tumbles after Paypal announced it will acquire iZettle, a European competitor of Square. Fintech startup iZettle will further Paypal's plans for an international omni-channel payments solution and increase competition in the point-of-sale market.
Paypal is gaining ground after announcing its $2.2 billion acquisition of a European competitor of Square
Paypal shares rise in pre-market trading after it announced the $2.2 billion acquisition of Square competitor iZettle. The European fintech startup which makes credit card readers for phones and tablets would further Paypal's international omni-channel plans.
The fintech company has raised the money from VC firm Dawn Capital and The Fourth Swedish National Pension Fund.
Swedish payments company iZettle gets €30 million to invest in artificial intelligence for small businesses
The Swedish company has won funding from the European Investment Bank to develop AI solutions for small businesses.
The company, which lets people accept card payments on their smartphone or tablet, says the UK is its biggest market.