Square Raises $100M in Series C Financing

Square, a San Francisco, CA-based mobile payments start-up, has raised $100m in Series C financing.

The round was led by new investor Kleiner Perkins Caufield & Byers, with participation from Tiger Global Management, LLC.

Launched in early 2010 and led by CEO Jack Dorsey, Square offers three products including:
– a reader that enables users to accept payments on their mobile device (iPhone, iPad and Android phones),
– a register for iPad that serves as a point of sale system for businesses to accept payments, track inventory, and share menu and location information, and
– a card case that enables individuals to open a tab at local merchants, store digital receipts, and browse directory and menu listings.

In conjunction with the funding, Mary Meeker of KPCB will take a seat on Square’s board, joining recently appointed members Larry Summers and Vinod Khosla.



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