August 28, 2014 / 7:45 AM / 3 years ago

Square in talks for $200 mln funding: Bloomberg

(Reuters) - Mobile payment startup Square Inc, co-founded by Twitter Inc Chairman Jack Dorsey, is in talks to raise $200 million, at a valuation of $6 billion, Bloomberg reported, citing a person with knowledge of the matter.

Some of the funding is expected to come from the Government of Singapore Investment Corp (GIC), which will push Square's valuation up from about $5 billion earlier this year, the report said. (bloom.bg/1vSCPX6)

Square and GIC were not immediately available for comment.

Founded in 2009, Square makes a credit card reader that slots into smartphones such as those made by Apple Inc.

Reporting by Arnab Sen in Bangalore; Editing by Gopakumar Warrier

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below