Payments fintech Marqeta raises $150mn investment

US-based startup Marqeta has raised $150mn investment from a single undisclosed investor at a $4.3bn valuation The investment was announced on 28 May b...

Matt High
|May 29|magazine8 min read

US-based startup Marqeta has raised $150mn investment from a single undisclosed investor at a $4.3bn valuation

The investment was announced on 28 May by the innovative card issuing platform. 

It was reported that Marqeta had raised the $150m investment in new capital from a leading institutional investor. 

Marqeta has since declined to name the investor, although it has been reported by various sources including Forbes, that a source familiar with the matter has named Capital Group.

Capital Group is a Los Angeles-based investment firm that runs American Funds and has $1.7trn in assets under its management. 

This follows a flush of activity for Marqeta. In May 2019, the business announced $260mn equity financing, which was led by Coatue and included participation from Vitruvian Partners among others. 

According to Businesswire, Marqeta is also backed by Goldman Sachs, Visa, 83North, Granite Ventures and ICONIQ Capital. 

Marqeta founder and CEO, Jason Gardner, said: “Marqeta continues to move forward from strength to strength in 2020 as our global modern card issuing platform provides essential infrastructure and support to our customers across industries and oceans.”

Gardner explained: “We’re building a single global platform to define and power the future of money for the world’s leading innovators. 

“This new capital helps us accelerate our mission to empower buildings to bring the most innovative products to market, wherever they are in the world.”

SEE MORE:

Marqeta: supporting fast-growing innovators

Marqeta is the first global modern card issuing platform that offers an open API and advanced infrastructure to support leading companies such as Square, Uber, Affirm and more. 

The business currently operates in the US, Canada, Europe and Australia and is certified to process payments in 10 countries in the Asia-Pacific region.

Read more about Marqeta here.

For more information on all topics for FinTech, please take a look at the latest edition of FinTech magazine.

Follow us on LinkedIn and Twitter.