Mastercard, Intel, American Express and the Fourth Swedish National Pension Fund could all exit the point-of-sale technology provider.

Sweden-based, corporate-backed mobile payment technology provider iZettle revealed this week it intends to raise up to Skr2bn ($226m) in an initial public offering on the Nasdaq Stockholm market in Sweden.

Founded in 2010, iZettle provides both mini card readers and payment software that enables merchants to accept chip, swipe or contactless payments, including through platforms such as Apple Pay, Samsung Pay and Android Pay.

The offering will follow more than $280m in financing, including $47.5m in a December 2017 round featuring Dawn Capital, the Fourth Swedish National Pension Fund and unnamed existing investors that valued iZettle at $950m.

Mastercard had joined Greylock Partners, Northzone and SEB Private Equity for iZettle’s $32m series B round in 2012, before fellow payment services provider American Express invested an undisclosed sum later the same year. Banking group Santander added $6.7m in 2013.

Chipmaker Intel’s investment arm, Intel Capital, took part in iZettle’s $61.3m series C round the following year, alongside Greylock, Northzone, SEB Private Equity, Dawn Capital, Zouk Capital, Hasso Plattner Ventures, Index Ventures and Creandum.

The company then raised $130m in a series D round featuring Intel Capital, Zouk Capital, Victory Park Capital subsidiary VPC Speciality Lending and undisclosed existing investors in January 2017 at a reported $500m valuation.

Jacob de Geer, co-founder and CEO of iZettle, said: “The IPO will provide us with improved access to capital markets to facilitate our continued growth and help us strengthen our profile with merchants, key business partners and in the fierce competition for talent.

“We look forward to embarking on the next stage of our journey together with existing and new shareholders in iZettle.”

Carnegie Investment Bank and JP Morgan Securities have been appointed joint global coordinators and joint bookrunners for the IPO. Barclays Bank is also a joint bookrunner while ABG Sundal Collier and Nordea Bank are lead managers and KeyBanc Capital Markets is a co-lead manager.