Verse Technologies was acquired by Square

Verse, a Barcelona, Spain operator of a P2P payments app, announced that it was acquired by Square.

FInancial details were not disclosed. Verse will continue to operate as an independent business, working out of their offices with no immediate changes to their existing products, customers, or business operations.

Verse, founded in 2016 and led by Bernardo Hernández, operates a mobile payment processing platform. Consumers have access to it via a mobile app that allows them to share payments easily, instantly and with no hidden fees.

The company has raised a total of almost $40 million as it was backed by a range of local and international investors, including Greycroft, Spark Capital,  Expon Capital, e.ventures and Martin Varsavsky.