Square is set to raise $200 million through another new round of funding, according to the New York Times’ Dealbook. The investors participating in the round are valuing Square at $3.5 billion, according to the report.
The company had been seeking a valuation as high as $4 billion, Dealbook’s Evelyn Rusli says. Just last summer, the company raised $100 million at a $1.6 billion valuation; if the details behinds Square’s latest rumored raise hold true, the company will have increased its value by 13.5 times in less than two years, Rusli writes.
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