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It might not be the funding announcement we've been hearing rumors about, but today Square announced that they've partnered with Starbucks. Beginning this fall, Square will begin processing all U.S. credit and debit card transactions at participating Starbucks stores across their 7,000 locations...
Therese's comment: Rumors are that Square has secured another $200 million, in addition to these $25 million from Starbucks http://www.businessweek.com/videos/2012-07-25/jack-dorsey-now-a-billionaire#r=related-rail-img
In any case Starbucks brings Square much more than money: huge visibility, credibility, distribution... Alliances are everything in the payment ecosystem. Well done !
