Mystery investor backs payments startup Marqeta to the tune of $150m

By Oliver Smith on Friday 29 May 2020

Digital Banking

At a stonking $4.3bn valuation.

Mystery investor backs payments startup Marqeta to the tune of $150m
Image source: Jason Gardner/Marqeta.

Card issuing platform Marqeta has become the latest US fintech to raise a record round in recent months.

Interestingly the startup declined to name the institutional investor who has just poured in $150m to the business, valuing it at a whopping $4.3bn.

The round comes after several large US fundraises this month alone, which have successfully closed despite coronavirus, including trading platform Robinhood which raised $280m and investment service Stash which raised $112m.

Marqeta, founded in 2010, handles card issuing for the likes of Square, Uber, Affirm, Instacart, and DoorDash with operations in Canada, Europe, Australia and the US.

“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 builders to bring the most innovative products to market, wherever they are in the world,” said Jason Gardner, Marqeta’s founder and CEO.

The cash is lined up for product development and further international expansion, and comes 12 months after Marqeta’s last funding round, where it raised $260m from investors including Coatue, Vitruvian Partners and others.

Marqeta now has over 425 employees and is also backed by Visa and Goldman Sachs.

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