A recent study from a research firm predicts Square will greatly increase in value to $3.2 billion after it successfully achieved a $200 million round of funding.
A report from from Privco said that the pace of growth for the relatively new company was happening at a rapid rate. The report also stated that the firm’s co-founder Jack Dorey, 35, owns 26 percent of the payment processing firm and would earn $845 under its valuation.
“While a valuation of $3.2 billion is rich, and virtually unheard of for a three-year old company, Square has grown dramatically since its prior round of funding, now processing over $500 million of merchant transactions a month,” PrivCo said in its report.
Its latest funding came from Rizvi Traverse, which invested $200 million for a 6.25 percent equity state.
Many industry experts have said that the mobile credit card terminal would dominate the sector in 2017. The Juniper Research Study revealed in just five years $180 billion worth of purchases would be made using this system.Back To Blog