23 July 2016
Find out more

Square closes $200m funding round

17 September 2012  |  6615 views  |  0 cash

Mobile payments outfit Square has closed a series d funding round, thought to be worth around $200 million, joined by Citi Ventures, Rizvi Traverse Management, and Starbucks.

The confirmation comes after two months of rumours that the dongle and app-based mobile card reader start-up would secure the investment valuing it at up to $3.25 billion.

Starbucks confirmed its $25 million commitment a few weeks ago as part of a wider deal that sees the coffee chain commit to using Square's mobile payments technology in its stores and entrusting it with all US card transaction processing.

Jack Dorsey's firm says that it has seen huge growth over the last 12 months, with its workforce growing from 150 to 400 and annualised payments processed up from around $1 billion to over $8 billion. The company's next stage will now see international expansion later this year.
KeywordsEFTPOSFINDEX

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Latest Square clone launches in Europe

Latest Square clone launches in Europe

24 August 2012  |  9296 views  |  0 comments
Square payments hit by outage

Square payments hit by outage

22 August 2012  |  7338 views  |  0 comments
Mobile innovators Square and Starbucks team up

Mobile innovators Square and Starbucks team up

08 August 2012  |  8515 views  |  1 comments
Square to close $200m funding round

Square to close $200m funding round

25 July 2012  |  6171 views  |  3 comments
PayPal launches Square rival

PayPal launches Square rival

16 March 2012  |  11405 views  |  4 comments
Square bids to take over the point-of-sale

Square bids to take over the point-of-sale

05 March 2012  |  10270 views  |  2 comments
MPowa launches UK's Square

MPowa launches UK's Square

23 January 2012  |  20950 views  |  11 comments
Intuit takes GoPayment to Canada

Intuit takes GoPayment to Canada

10 January 2012  |  7004 views  |  0 comments
Virgin mogul Branson makes 'multimillion dollar' investment in Square

Virgin mogul Branson makes 'multimillion dollar' investment in Square

08 November 2011  |  8978 views  |  0 comments
Sweden's Square hits App store

Sweden's Square hits App store

19 August 2011  |  13784 views  |  4 comments
Square bids to kill off the cash register

Square bids to kill off the cash register

24 May 2011  |  11442 views  |  0 comments
Visa invests in Square

Visa invests in Square

28 April 2011  |  14391 views  |  1 comments
Square raises $27.5m

Square raises $27.5m

11 January 2011  |  9144 views  |  1 comments
Twitter founder Dorsey launches mobile phone credit card reader

Twitter founder Dorsey launches mobile phone credit card reader

02 December 2009  |  14678 views  |  2 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit www.abe-eba.euFind out moreVisit VocaLink.com

Top topics

Most viewed Most shared
MasterCard agrees £700m VocaLink acquisitionMasterCard agrees £700m VocaLink acqu...
7844 views 14 comments | 32 tweets | 36 linkedin
hands typing furiouslyWhat Every FinTech CEO Should Know About R...
7728 views 0 | 14 tweets | 8 linkedin
hands typing furiouslyBanking on IoT: Security in the Internet o...
7548 views 3 | 19 tweets | 6 linkedin
Santander doubles down on fintech fundSantander doubles down on fintech fund
7510 views comments | 22 tweets | 28 linkedin
Brexit-scarred London fintech startups enquire about moving to BerlinBrexit-scarred London fintech startups enq...
7348 views comments | 16 tweets | 16 linkedin

Featured job

Find your next job