Block acquired Verse, a transaction announced in June 2020.
Verse operates in Cash App, is based in Spain / Europe. Square acquired Verse, a Spain-based peer-to-peer payments app that lets customers instantly send and receive money from friends and family free of charge. Verse joined the Cash App organization at Square, with the two teams sharing technology and resources. Verse was to continue operating as an independent business from its own offices, with the initial priority being continued growth in Europe.
Square was drawn to Verse's strong team and shared customer-first approach; the deal supported Cash App's expansion by backing Verse's continued growth in Europe with Cash App technology and resources.
Advisory firms were not disclosed for this transaction.