As we reported in early November, entrepreneur and founder of the Virgin Group Sir Richard Branson made a personal investment in disruptive mobile payments startup Square. The exact amount of Branson’s investment was not disclosed at the time but Reuters reported that it was a ‘multi-million’ dollar investment.
A new SEC filing shows Square raised another $3 million in addition to the startup’s $100 million in funding led by Kleiner Perkins (which valued the mobile payments company at over $1 billion). Square’s newly amended SEC document indicates the company has raised $103 million in series C funding.
Square declined to comment, stating that the company doesn’t comment on financial matters.
At the time of the investment, Branson said he “took interest in Square’s rapid growth and novel technology, in particular its free hardware that allows anyone to accept credit card payments anywhere, anytime.”
Beyond the star value of Branson joining Square as an investor, having the Virgin founder on board as an advisor could help Square in its international expansion, which is expected to take place in 2012.
Square is making commerce easy for everyone. Starting with a free credit card reader for the iPhone, iPad, and Android devices, Square Reader allows anyone to accept credit cards anywhere, anytime, for a low transaction rate of 2.75 percent per swipe, with no hidden fees. Square Register serves as a full point-of-sale system for businesses to accept payments, manage items, and share menu and location information. Square Wallet, available in the US, is the most seamless way to pay,...
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