Blog

Branson invests in mobile payment technology

November 11, 2011

One of the most successful entrepreneurs in modern history recently poured some of his own resources into a mobile payment processing company.

One of the most successful entrepreneurs in modern history recently poured some of his own resources into a mobile payment processing company.

According to a release by Virgin, Sir Richard Branson invested some of his funds to help Square launch its service. The funding comes after a successful round of Series-C funding in which the merchant services company raised $100 million from Kleiner Perkins Caufield and Byers and others.

The billionaire said that he wanted to help the new company get off the ground and help change the industry. He also said that the genesis of Square was inspiring.

“I’m very passionate about helping people start and grow successful businesses, and Square is an incredible technology that inspires and empowers everyone to be an entrepreneur,” Branson said in a statement.

After being launched one year ago, the firm has sent out a total of 800,000 credit card readers and has processed $2 billion. The company is planning to introduce the product to international stores in 2012, a market it has yet to infiltrate.  

Back To Blog