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Square Closes $200M Fundraising Round
September 17, 2012
Square, Twitter co-founder Jack Dorsey’s innovative mobile point-of-sale, has completed a fundraising round of $200 million, resulting in a $3.25 billion valuation. Investors now include Citi Ventures, Rizvi Traverse Management, and Starbucks.
Starbucks, in particular, is now a key part of Square’s growth strategy. The two companies announced last month that Starbucks will start accepting Square payments in nearly 7,000 locations. Starbucks also announced then that it would contribute $25 million to the funding round.
In the same announcement, Square revealed it is now processing $8 billion per year, eight times its processing volume at the same point last year. The company also has expanded its staff from 150 to 400 employees.
to read more from Mashable.
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