Square has informed investors that they have closed a $200 million Series D round of funding from Citi Ventures, Rizvi Traverse Management, and Starbucks Corporation. Square is now processing over $8 billion in payments per year. Starbucks’ investment in the company is also strategy. Square now handles the credit and debit card payment processing for Starbucks’ U.S. locations. Customers can use the Pay with Square app at Starbucks too. Starbucks CEO Howard Schultz joined Square’s board of directors. Square is now valued at over $3.25 billion and has 400 employees.