The Technology and Fintech teams advised Marqeta on its Series E fundraise, led by Coatue Management. This new funding values Marqeta at nearly $2 billion and solidifies the company’s place on the frontlines of the financial technology revolution, as the creator of the rapidly expanding modern card issuing market. The round saw participation from several new investors, including Vitruvian Partners, Spark Capital, Lone Pine Capital and Geodesic. They join existing Marqeta investors Visa, ICONIQ, Goldman Sachs, 83North, Granite Ventures, CommerzVentures and CreditEase.
Marqeta is the leading global modern card issuer, powered by the most advanced issuer processor platform built in over two decades. Marqeta’s open APIs allow a new generation of businesses to build in innovative payment programs and experiences, allowing companies on the cutting-edge of technology and finance like Square, Affirm, DoorDash, Kabbage and Instacart, to customize payment cards to meet the unique needs of their customers. Marqeta will use the round to fuel domestic and international expansion, enter new product verticals and cement long-term growth.
For more details on the fundraise, read the press release.