San Francisco-based mobile payments company Square has secured a revolving credit facility in the low hundreds of millions led by Goldman Sachs with participation from Morgan Stanley, JPMorgan Chase, Barclays, and Silicon Valley Bank. Square simplifies commerce transactions for individuals and businesses with its credit card reader, point-of-sale system, and personal wallet. Founded in 2009, Square has raised $341 million in venture funding and will use the new debt financing to fund growth as it expects sales to approach $1 billion this year.
Barcelona-based digital voting services company Scytl has raised $40 million in funding from Paul Allen's Vulcan Capital. Scytl aims to modernize elections with its voting technology that registers voters, hosts elections online, and counts votes. Founded in 2001, Scytl has managed more than 100,000 electoral events in 35 countries and will put the new funds toward research and development of its platform.
Chinese video streaming site and media portal Xunlei has raised $310 million in funding from Xiaomi with participation from Kingsoft, Morningside Ventures and IDG. Xunlei is known for its P2P bittorrenting software but also runs a video-streaming site called Kankan that features mostly licensed TV shows and movies. Founded in 2003, Xunlei claims over 230 million monthly active users and 4 million paying subscribers.
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