Square Closes $200 Million Round to Go Global
Mobile payment start-up Square just squared away $200 million in its fourth round of funding.
The San Francisco-based company led by Twitter co-founder Jack Dorsey announced the Series D round on its website Monday. The round was led by Square’s new partner Starbucks, as well as Citi Ventures, Rizvi Traverse Management, and CrunchFund. Square says it will focus this round of funding on international expansion.
Along with the funding news, the company also announced that it now processes over $8 billion in payments annually.
Last year Square raised nearly $130 million in funding from the likes of Visa and Sir Richard Branson. At that point, the company reported processing more than $1 billion in payments annually.
Rumors of Square's Series D funding first appeared in late July on PrivCo, a research firm that tracks financial data on private companies. Citing unnamed sources, the website said investors valued the company at around $3.25 billion.
Square has raised $341 million to date, and employs around 400 people between its headquarters in San Francisco and another office in St. Louis, Missouri.