Mobile Payment startup Square gets multi-million investment from billionaire Sir Richard Branson.
Square, the cool mobile payment startup, just got cooler by getting Richard Branson to invest in them. Square recently closed a $100M Series-C financing round led by Kleiner Perkins Caufield and Byers.
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Branson, known for his success building hundreds of companies around the world, 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.
"I’m very passionate about helping people start and grow successful businesses, and Square is an incredible technology that inspires and empowers everyone to be an entrepreneur,” said Sir Richard Branson. See the latest photos of Sir Richard Branson below. The man has a busy life.
Square just launched in 2010 offering a new way for individuals and businesses to accept credit card payments on their mobile devices. The company distributes an elegant and easy-to-use card reader (square shape) and mobile application, which has seen widespread adoption. Despite having launched only a year ago, Square has shipped over 800,000 card readers to merchants and is currently processing over $2 billion in payments annually. While currently focused on its U.S. growth, the company plans to offer Square in international markets in 2012. Via the Square site.