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Hammarskiöld & Co represented MasterCard in its minority investment in iZettle AB

July 2012

Hammarskiöld & Co has acted as legal advisor to MasterCard in its participation in iZettle AB’s EUR 25 million Series B round of funding. The investment was led by Greylock Partners and Northzone. In addition to MasterCard, SEB Private Equity, Index Ventures and Creandum also participated in the funding.

iZettle AB develops chip-card readers and apps for Smartphone-based mobile commerce which turns a Smartphone into a credit card terminal. The product is available throughout the Nordics and the Series B funds will be used to introduce iZettle in additional European markets and elsewhere around the world where chip-cards are standard. iZettle’s chip and signature solution has been an instant hit among small business owners and individual service providers, increasing the number of point of sale (POS) credit card terminals in the Nordics by 10 percent since the company began operation in Sweden last August and expanded to Denmark, Finland and Norway in February this year.

MasterCard is a global payments and technology company listed on NYSE. It operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, travelling, running a business and managing finances – easier, more secure and more efficient for everyone.

Hammarskiöld & Co’s team consisted primarily of Erik Fahlgren (Partner), Eva Sundling (Senior Associate), Jonas Stedt (Senior Associate), Katarina Skrabb (Associate) and Helena Bolinder (Associate).

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