Square has closed a new round of funding →
Square has announced that it has finally closed its Series D round, totalling $200 million, with investors including Citi Ventures, Rizvi Traverse Management, and Starbucks Coffee Company. It values the mobile payments company started by Twitter’s Jack Dorsey at $3.25 billion, according to AllThingsD.
We already knew Starbucks had invested $25 million when the deal between the companies was announced.
Other interesting bit:
It also plans to announce its first non-U.S. services later this year, it says. A large part of its financing will be used to accelerate that expansion. A likely partner there will again be Starbucks, which has an extensive operation outside of the U.S., with 18,000 stores in 60 countries in total. Starbucks’ CEO Howard Schultz has already said that expanding Square’s relationship to those locations is up to Square to greenlight.
I’m guessing the UK (same language, good smartphone adoption, probably fewer regulations on payments unlike other European countries, presence of competitors), but I might be wrong. I’m secretly wishing it was France though.
The Starbucks deal is amazing to enter a new market.