Square: The Mobile Paypal?

15.11.11 | 17 notes | squarevirginrichard bransonpaypaltech startuppaymentcredit cardsmobilecellularsmartphones

Virgin Founder Richard Branson has surfaced as one of the latest investors in a tech-based payment startup called Square. The company was founded in 2009 and launched in 2010. San Francisco-based Square just a closed $100 million series c financing round led by Kleiner Perkins Caufield and Byers. Square offers technology that lets people and businesses take credit card payments on their mobile devices.

According to a Virgin announcement, Square has shipped upwards of 200,000 card readers to merchants and processes more than $2 billion in payments each year. The focus is on growth in the U.S. but it plans to go global in 2012.

This summer, Square added Larry Summers to its Board of Directors.