Square Set to Net $200 Million in New Financing 

July 26, 2012

According to multiple published reports, mobile payments company Square will soon receive a $200 million round of funding, putting the San Francisco-based company’s valuation north of $3 billion. The investment is expected to be led by Rizvi Traverse Management, a small private equity firm that was an investor in Square founder Jack Dorsey’s previous venture: Twitter.

The investment would be Square’s third in two years, the most recent coming last summer at $100 million. Other backers include Sequoia Capital and Kleiner Perkins Caufield & Byers.