API card platform Marqeta set to reach over $1.8bn valuation
Marqeta, a California-based open API card issuing and processing platform, is set to reach over $1.8bn in value following its current funding round.
The firm’s series E round is almost at $250mn, which will lead to a valuation of $1.875bn, according to Techcrunch which was cited a Delaware filing.
SEE ALSO:
- Money20/20: Visa and EMQ announce deal for cross-border remittances
- Japan launches cashless week campaign for Golden Week holiday
- WeChat Pay introduced at leading Dubai mall
- Read the latest issue of FinTech Magazine!
The round is still in progress, so final details have not been released. However, the firm’s Series D round in June 2018 proved a success, raising $45mn led by ICONIQ Capital and Goldman Sachs.
Last year, the company stated it would use the funding to expand its business across borders and develop more solutions.
The company, which refers to itself as the “first new card issuing and payment processing platform in 20 years”, uses open API to allow developers to build payment experiences.
- Marqeta acquires card management platform Power for $223mnFinancial Services (FinServ)
- How fintech can help card issuers prevent friendly fraudDigital Payments
- Fintechs Moss and Marqeta in SME card issuing partnershipFinancial Services (FinServ)
- 75% of consumers now using mobile wallets – surveyDigital Payments
