updated 01:55 pm EST, Tue November 8, 2011
Virgin Group's Sir Branson invests in Square
Square, maker of the hardware and software required for vendors to take credit card payments, has recently landed Sir Richard Branson of Virgin Group fame as one of its investors. This is the third piece of positive news for the company, which recently received $100 million in funding from Kleiner Perkins Caufield and Byers. Branson's investment amount isn't being specified, however.
Branson released a statement to that effect, saying he is very passionate about helping people start successful businesses and Square is a technology that helps them achieve that. In mid-October, Square proccessed more than $2 billion in annual payments from more than 800,000 merchants. Apple, Best Buy, Radio Shack, Target and most recently, Walmart have also been added as clients.
Square's next planned step is to expand to international markets. It currently operates solely in the US.