Square Capital: Leveraging data to extend credit to small businesses Square Capital, the lending arm of Square Inc., has taken advantage of a market of small- and medium-sized businesses that lack access to traditional financing, the subsidiary's head Jackie Reses told CNBC Tuesday.Square reported making out about $472 million in 72,000 business loans in 2018, up 55 percent from the year prior. (CNBC business)
Square reports first-quarter sales up 59%, but net loss widens to $38M After Square issued weak guidance in the fourth quarter of 2018, all eyes were on the payments company to see what kind of growth it really had in the first quarter of 2019. Results reported Wednesday underscored some of the challenges the company is facing. (TechCrunch)
Square acquires conversational AI startup Eloquent Labs Square has acquired conversational artificial intelligence startup Eloquent Labs to help its merchants improve customer service. Eloquent Labs, which raised a $1.5 million seed round back in early 2017, offers to small businesses a conversational assistant named Elle. (TechCrunch)
Square doubled down on Bitcoin with a $170m purchase of the cryptocurrency. The new trade follows Square’s October 2020 purchase of 4,709 bitcoin (~$50m), and the digital currency now accounts for ~5% of the company’s assets.