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GIC leads US$150m investment in mobile payments startup Square

Published Thu, Oct 9, 2014 · 09:50 PM

Singapore

CONTINUING its investing spree for global technology companies, Singapore's sovereign wealth fund GIC is believed to have led a US$150 million venture-capital round in Square, a San Francisco-based mobile payments startup founded by Twitter co-founder Jack Dorsey.

The Series E round, confirmed by Square on Sunday, values the company at US$6 billion, and takes total funding received to-date to over US$590 million since 2009.

Early on Friday, GIC confirmed its investment to The Business Times, but declined to reveal the amount and how it compares to that of other investors - who, according to sources, include Goldman Sachs and New York private equity firm Rizvi Tr…

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