This expansion, possibly to the UK, will please british business owners in their drive to reduce their cost base as the company recently announced a new business transaction model for small business customers who take less than $250,000 via their system lowering their charges to $zero per sale replacing them with a flat $275 monthly charge.
Along with the funding news, the company also announced that it now processes over $8 billion in payments annually.
Last year Square raised nearly $130 million in funding from the likes of Visa and Sir Richard Branson. At that point, the company reported processing more than $1 billion in payments annually.
This funding values the company at around $3.25 billion.
Square has raised $341 million to date, and employs around 400 people all in the US.
