San Francisco-based mobile payments companySquare has secured a revolving credit facility in the low hundreds of millions led by Goldman Sachs with participation from Morgan Stanley, JPMorgan Chase, Barclays, and Silicon Valley Bank.
Square simplifies commerce transactions for individuals and businesses with its credit card reader, point-of-sale system, and personal wallet.
Founded in 2009, Square has raised $341 million in venture funding and will use the new debt financing to fund growth as it expects sales to approach $1 billion this year.
By Jarrett Neil Ridlinghafer
CTO of the following –
Synapse Synergy Group
Chief Technology Analyst, Author & Consultant
Compass Solutions, LLC
Cloud Consulting International