Richard Branson invests in Square
- By Greg Rose -
- Nov 08, 2011
Richard Branson has been announced as one of the new investors in Square Inc.
Square, the company revolutionising transactions between buyers and sellers, made the announcement after recently closing a $100M Series-C financing round led by Kleiner Perkins Caufield and Byers.
Richard Branson 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.
He said: "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."
Square launched in 2010 as an innovative 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 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 US growth, the company plans to offer Square in international markets in 2012.