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Square closes $200M Round; Worth $3.25B Now

By TechTaffy Desk

[Techtaffy Newsdesk]

Twitter co-founder Jack Dorsey’s mobile payment startup Square has closed its Series D financing round. Investors participating in the round include Citi Ventures, Rizvi Traverse Management, and Starbucks Coffee Company. While the company did not provide any additional details, Tricia Duryee of AllThingsD, confirms the size of the round to be $200 million, which pegs Square at a $3.25 billion valuation.  Square has raised some $340 million in total financing so far.

A year ago, Square had approximately 150 employees and processed over $1 billion in payments on an annualized basis. Today, Square has over 400 employees and is processing over $8 billion in payments on an annualized basis.

The company is planning to expand internationally later this year.

Square makes a  free credit card reader for the iPhone, iPad, and Android devices, allowing anyone to accept credit cards anywhere, anytime. Square Register serves as a full point-of-sale system for businesses to accept payments, track inventory, and share menu and location information.

Founded in 2009, and headquartered in San Francisco, Square is currently available only in the US.

[Image Courtesy: Mr. Jack Dorsey]

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