iZettle improves results

iZettle improves results

iZettle, offering mobile payment solutions, narrowed its loss last year and grew sharply its revenue as the company prepares for a potential listing.

iZettle reported a 60 percent rise in revenue, from 402 million Swedish crowns in 2015 to 643 million crowns in 2016. The net loss narrowed to 228 million crowns from 295 million in 2015. The company expects to continue to improve profitability in 2017.

The tech startup allows small businesses to turn smartphones or tablets into cash registers. The company also offers financing, invoicing and mobile payments services.

iZettle operates on 12 markets in Europe and Latin America.

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