Swedish mobile payment company iZettle has raised $55 million (€40 million) in Series C funding to expand its operations.

"Building on its early successes in Europe, we're excited about iZettle's growth plans," says Nathan Medlock, a principal at London-based Zouk Capital, in a May 9 press release. Zouk Capital led the funding round, and Medlock will join the iZettle board.

IZettle launched in 2011 with technology that allows consumers and small businesses to accept credit card payments with their mobile devices.

Additional investors in the round included Dawn Capital and Intel Capital, as well as Series A and B investors Creandum, Greylock Partners, Index Ventures, Northzone and SEB Private Equity.

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