Saudi Arabia Investors Expected To Take $US200 Million Stake In Square -- Now Valued At $US5 Billion

Jack dorsey 9:13Getty Images/Bill PuglianoSquare’s Jack Dorsey.

Kingdom Holding, the investment fund run by Saudi Arabia’s Prince Alwaleed, wants to buy a $US200 million stake in mobile payments company Square, according to a Fox Business report this morning.

This would bring Square’s valuation to $US5 billion. The deal is expected to be locked up between Alwaleed and Square’s founder Jack Dorsey today.

Late last year, Dorsey claimed that he had a plan for the company to be profitable by 2015, and in December he said that that he was talking to investors about raising a new round of financing that would let the company buy back stock from some of its employees. The target for that new round was $US5 billions; looks like this investment will make it happen.

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at