sq. Reportedly recordsdata For IPO

cell payment company sq. quietly filed for an IPO, Bloomberg reported on Friday. The information used to be disclosed by using personal sources, and follows previous stories that square was once starting to file ultimate month.

sq., which deals credit card payments to small companies, has become an increasingly highly effective participant in the crowded payments industry. the company announced $25 million in money raised for a separate company lending application this previous may.

Federal law permits firms to confidentially file for IPOs if they’ve underneath $1 billion in annual revenue and meet a couple of other necessities.

This story will be updated as we’ve more knowledge.

[by the use of Bloomberg]