Square Raises $US100 Million At A $US6 Billion Valuation

Twitter founder Jack DorseyAPSquare CEO Jack Dorsey

The payments startup Square has raised $US100 million at a valuation of almost $US6 billion, Fortune’s Dan Primack and Erin Griffith report, based on filings obtained by VCExperts.com.

This news follows an August report from CNBC that Square was trying to raise $US200 million total, at least partially from the Government of Singapore Investment Corporation. Square didn’t list any stock buyers on the filing seen by Fortune, and it’s unclear whether Square plans to raise another $US100 million.

Generally, it’s been a tough year for Square, between a mix of bad press and increasing competition. Amazon recently launched a new card reader device that undercuts Square on transaction fees, and Apple just entered the mobile payments arena generally with Apple Pay.

Square declined to comment on the report.

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