Square has acquired the team behind Evenly, a mobile payment application, the two companies announced Wednesday. Terms of the deal were not immediately disclosed.
Evenly was founded in 2012 with the goal of taking the headache of splitting bills with friends, not unlike other mobile payment apps like Venmo and WePay. The app will be shut down early next year and the team will join Square to work on "seller initiatives."
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"At Square, we'll help make commerce easy for millions of buyers and sellers," Evenly's team wrote in a statement on its website. "Together, we'll continue to bring simplicity, transparency, and immediacy to commerce."

In a separate statement, Square highlighted Evenly's decision to focus on the product "experience" rather than the technical details. "The Evenly team will work on seller initiatives, bringing to Square the same focus on simplicity and design that they brought to their own app," Gokul Rajaram, product engineering lead at Square, said in the statement. Square did not elaborate on what initiatives the Evenly team will be working on in particular.
This is the second acquisition that Square has made this month — it acquired Viewfinder, a photo-sharing and group messaging application, last week — and the fourth acquisition it has made to date.
Square is valued at more than $3 billion and the startup is expected to go public sometime next year.
Image: Square