Square now processes $6b in payments annually, employs over 300 people; hires CFO

Square now processes $6b in payments annually, employs over 300 people; hires CFO

Jack Dorsey’s mobile payments venture, Square, has hired Sarah Friar away from Salesforce.com, where she served as SVP of Finance & Strategy.

Friar will become Square’s first chief financial officer as the company continues to expand quickly: in the past year, it has grown from 80 employees to over 300.

Founded in 2009, Square now processes over $6 billion in payments on an annualized basis, enabling over 1 million individuals and businesses to accept credit cards with its solution, the company asserts.

Its rapid growth hasn’t come without some nasty growing pains, however.

Interesingly, Friar’s appointment comes at a time when Square is rumored to be working on a large fundraising round.

Before Salesforce.com, she spent over 10 years at Goldman Sachs in corporate finance, M&A and equity research, and ultimately as business leader for the GS Technology Research group. Friar previously worked for McKinsey in both London and South Africa.

In a statement, Square boasts that it has recently added several VP-level executives, including Alyssa Cutright (VP, International) from PayPal, Jesse Dorogusker (VP, Hardware) from Apple and Ricardo Reyes (VP, Communications and Brand Marketing) from Tesla.

They recently lost head of product Megan Quinn, however, as she joined VC firm Kleiner Perkins Caufield & Byers.

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