PayPal Holdings’s $2.2 billion acquisition of iZettle

Fladgate LLP has advised the lead group of financial investors on the sale of their entire interest in iZettle to PayPal Holdings; subject to regulatory approval.

The pool of financial investors comprising Zouk Capital, Index Ventures, 83North, Creandum and Northzone.

The total deal value was $2.2B.

iZettle is best known for offering small businesses a mini credit card reader that can turn smartphones and tablets into payment registers, akin to that offered by U.S.-based Square, the company founded by Twitter Chief Executive Officer Jack Dorsey.

Stockholm-based iZettle is present in 11 countries and offers other services for small businesses such as lending. It had advanced plans to go public

The Fladgate team was led by corporate partner Graham Spitz (picture), assisted by corporate senior associate Yulia Leyko.

Skadden has advised PayPal Holdings on the deal.

 

Involved fees earner: Graham Spitz – Fladgate LLP; Yulia Leyko – Fladgate LLP;

Law Firms: Fladgate LLP;

Clients: Zouk; Index Ventures; Northzone; Creandum AB; 83 North;