When Jacob de Geer’s ex-wife went to a trade fair seven years ago, she had a problem. More than half the potential customers for her glasses wanted to pay with credit and debit cards but as a small entrepreneur she could not afford to accept them. Most customers did not carry cash so went away empty-handed.
In response, Mr de Geer founded iZettle, a Swedish company that is not just one of the fastest-growing in the Nordics but in the top 25 of the FT 1000. iZettle provides card readers that can be plugged into smartphones or tablets to help small merchants with payments.
It is just one of several fast-growing companies born in Stockholm in recent years. Out of the top 500 in Europe, 10 were founded in the Swedish capital. Paris, Rome and London may attract more tourists but Stockholm is one of Europe’s most active start-up hubs.
Read the full story at ft.com.