Square Acquires Expense-Sharing Service Evenly

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Square has just added another mobile transactions company to their team, announcing the acquisition of Evenly today.

"[W]e’re pleased to announce that the Evenly team is joining Square. Evenly’s app made it easy for anyone to send or collect payments from friends, anywhere, anytime. But more importantly, the team showcased the importance of prioritizing experience over the technical aspects of the product itself. In their own words, 'Life is about sharing experiences, not splitting transactions.'”

Evenly allows users to transfer fund to friends, split payments easily, and will help remind people to pay back their debts.

According to Square, the Evenly team will be working on seller initiatives. Square says they will bring "the same focus on simplicity and design that they brought to their own app."

Evenly had this to say about the acquisition:

Over the past 18 months, we've been honored to help our users pay friends, fund vacations, share adventures, and much, much more. Along the way, we've been fueled by the belief that simplifying everyday payment experiences can help people better enjoy life's moments. We couldn't imagine a better place to continue our journey than at Square.

At Square, we'll help make commerce easy for millions of buyers and sellers. We'll tackle huge challenges alongside so many talented engineers and designers. Together, we'll continue to bring simplicity, transparency, and immediacy to commerce. We're thrilled about the opportunity ahead!

Thank you for giving Evenly your trust. It's been an honor! While we plan to shut down Evenly in early 2014, rest assured, you'll have plenty of time withdraw any outstanding balances from your account. We hope you'll continue the journey with us at Square.

Evenly accounts will remain active until January 15th, at which point the service will shutter completely.

It's clear that Square is continuing to improve money transfers with this acquisition. A couple of months back, Square debuted Square Cash, a super easy service that allows users to transfer funds via email.

Yesterday, Square unveiled a new, thinner card reader.

Image via Evenly

Josh Wolford
Josh Wolford is a writer for WebProNews. He likes beer, Japanese food, and movies that make him feel weird afterward. Mostly beer. Follow him on Twitter: @joshgwolf Instagram: @joshgwolf Google+: Joshua Wolford StumbleUpon: joshgwolf

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