Square, Inc. is a financial services and digital payments company that was founded in 2009 by Jack Dorsey and Jim McKelvey. The company has since expanded its services to include Square Capital, a lending service for small businesses, and Cash App, a peer-to-peer payment app. In 2018, Square acquired Weebly, a website building platform, and in 2019, it launched Square Terminal, a point-of-sale system for businesses. Recently, Square has announced its acquisition of Azevedo Consulting Inc., a financial planning and analysis firm that will help Square expand its financial services offerings.
Azevedo Consulting Inc. is a financial planning and analysis firm that was founded in 2003 by Sarah Azevedo. The firm specializes in helping businesses with financial forecasting, budgeting, and strategic planning. Azevedo Consulting has worked with a variety of clients in industries such as healthcare, technology, and retail.
The acquisition of Azevedo Consulting will allow Square to expand its financial services offerings to include more robust financial planning and analysis tools for businesses. This will be especially useful for small businesses that may not have the resources to hire a full-time financial analyst. With Azevedo Consulting’s expertise, Square will be able to provide businesses with more accurate financial forecasts and help them make better-informed decisions.
Square Financial Services
Square Financial Services is a subsidiary of Square, Inc. that was recently approved by the Federal Deposit Insurance Corporation (FDIC) to become a bank. This means that Square can now offer loans and other banking services to its customers. Square Financial Services will be able to provide loans to small businesses that may not qualify for traditional bank loans.
With the acquisition of Azevedo Consulting, Square Financial Services will be able to offer more comprehensive financial planning and analysis tools to its customers. This will help businesses make better-informed decisions about their finances and ultimately help them grow.
Square Capital
Square Capital is a lending service for small businesses that was launched in 2014. The service provides loans to businesses based on their sales history through Square. This means that businesses that use Square for their point-of-sale system can easily apply for a loan through Square Capital.
With the acquisition of Azevedo Consulting, Square Capital will be able to provide more accurate financial forecasts to its customers. This will help businesses make better-informed decisions about whether or not to take out a loan and how much to borrow.
Cash App
Cash App is a peer-to-peer payment app that was launched by Square in 2013. The app allows users to send and receive money from friends and family. Cash App has since expanded its services to include a debit card and the ability to buy and sell Bitcoin.
While the acquisition of Azevedo Consulting may not have a direct impact on Cash App, it does show that Square is committed to expanding its financial services offerings. This could mean that Cash App may eventually offer more financial planning and analysis tools for its users.
Conclusion:
The acquisition of Azevedo Consulting Inc. by Square, Inc. is a strategic move that will allow Square to expand its financial services offerings. With Azevedo Consulting’s expertise, Square will be able to provide businesses with more accurate financial forecasts and help them make better-informed decisions. This will be especially useful for small businesses that may not have the resources to hire a full-time financial analyst. Additionally, the acquisition shows that Square is committed to expanding its financial services offerings and helping businesses grow.