Square just closed a $150 Million Series E round of fundraising (that would be after A, B, C, D…). The valuation has fallen in relation to it’s payment processing rate (they are expected to process roughly $30 billion in transactions this year, they did $20 billion last year with a valuation of $5 Billion in 2013, in 2011, they processed $1.46 billion in transactions and had a valuation of $1.6 billion), and still lost $100M in 2013.
It is unknown whether Square needs the funds to pay it’s bills, acquire additional companies, or other internal ops priorities.
There is a lot of buzz in the payment space, especially with the anticipation that Apple Pay will make NFC payments more widely available and and accepted payment form. This is also making the space more crowded. Intuit, Paypal and others are all competing for this space.