Square Closes Latest Round of Financing After Last Month's Starbucks Deal

Square closed its Series D round of financing today after its blockbuster partnership to put its payments technologies in Starbucks locations.

Last month payments start-up Square caught major headlines thanks to a big endorsement from Starbucks, who agreed to start using Square's payments technologies in its locations. Today Square followed up with news that it had closed its Series D round of financing, with published reports indicating that Square pulled in around $200 million.

Square said that the major investors included Citi Ventures, Rizvi Traverse Management and Starbucks. Last month's deal with the coffee colossus included $25 million of Series D financing for Square. The deal with Starbucks - and the media buzz that it generated - was a huge boon to the startup, and probably helped it catch the eyes of investors.

Another factor that probably impressed investors was Square's growth this year: the company quadrupled its workforce this year, from 100 employees to 400. And after processing $1 billion in payments last year, Square is on track to process $8 billion this year.

Square said in a statement on its website that the next step in that growth will be the company's expansion overseas, which it says will be coming later this year.

Jonathan Camhi has been an associate editor with Bank Systems & Technology since 2012. He previously worked as a freelance journalist in New York City covering politics, health and immigration, and has a master's degree from the City University of New York's Graduate School ... View Full Bio