Mobile payments company Square has acquired Evenly, an app that facilitates sharing of expenses among users, according to VentureBeat.

Evenly is Square's fourth acquisition to date. In just one week, Square has doubled the number of its acquisitions within its four-year history. Evenly will now develop seller initiatives at Square, in cooperation with the latter's newly-acquired photo-sharing app Viewfinder, the report said.

Square made waves in the payments industry when it launched its credit card reader that can be plugged into an iPhone. This dongle allowed small merchants to conduct digital payment transactions more easily. The company currently processes billions of dollars in payments in a year, the report stated.

In June, Square debuted an online marketplace that allows local businesses to sell their products online. The site makes a way for firms without a strong online presence to reach a wider market and sell online, the report explained.

The acquisitions of Evenly and Viewfinder will help Square develop the tools it offers to its clients, VentureBeat reported.