AAA Square closes $150m series F

Square closes $150m series F

US-based online payment company Square has closed a $150m series F round at a $6bn valuation, the New York Times reported on Sunday.

Reports last month, together with an SEC filing, indicated Square had raised $100m at the same valuation, but a source confirmed to the Times that the final figure was larger.

Government of Singapore Investment Corporation led the round, which also included existing investors including investment bank Goldman Sachs and investment firm Rizvi Traverse Management.

Founded in 2008, Square provides merchant aggregation and payment services for online sellers. Its mobile credit card reader enables anyone to accept payment in return for a relatively small transaction fee.

Square had raised about $340m in equity funding prior to the latest round, with previous backers including financial services firm Citi’s corporate venturing unit, Citi Ventures, coffee retailer Starbucks and payment services provider Visa.

It has not been disclosed whether those corporates reinvested in Square’s latest round.

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