Square Reportedly Raises New $150M Round At $6B Valuation

Chris CrumBusiness

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There has been no official announcement so far, but according to a report from The New York Times, Square has raised a new $150 million round of funding, valuing the company at $6 billion.

The report cites a person briefed on the investment, who requested to remain anonymous because of a lack of authorization to speak on the matter. It says the round is led by the Government of Singapore Investment Corporation, a new investor, and includes participation from previous investors Goldman Sachs and Rizvi Traverse Management. The company confirmed a round of funding, but no details.

The Times reported last month that Square had intended to raise at least $100 million, so the round isn't a huge surprise.

A couple weeks ago, reports emerged that Square will enable its Register service to accept more types of payments including Bitcoin and Apple Pay. The company announced in the summer plans to release a reader for chip cards.

In August, Square announced a partnership with Victory Park Capital to extend hundreds of millions of dollars to independent businesses as part of its Square Capital program, which enables businesses to sell a specific amount of future card sales to Square in return for a lump sum payment.

Image via Square, Twitter

Chris Crum

Chris Crum has been a part of the WebProNews team and the iEntry Network of B2B Publications since 2003. Follow Chris on Twitter, on StumbleUpon, on Pinterest and/or on Google: +Chris Crum.