NEW YORK (Reuters) – Payment card issuing startup Marqeta has raised $150 million from a U.S. institutional investor, doubling its valuation to $4.3 billion, the company said on Thursday.
The Oakland, California-based company declined to disclose the name of the investor.
The deal comes a year after Marqeta raised $260 million in a round led by hedge fund Coatue Management with participation from Vitruvian Partners and others.
Marqeta will use the funding to further develop its product and continue its international expansion, chief executive and founder Jason Gardner said an interview.
Backed by Goldman Sachs Group Inc (GS.N) and Visa Inc (V.N), Marqeta has developed a platform that it says makes payment card issuing and processing simpler and more efficient for businesses.
Marqeta’s clients include many well-known technology startups such as payments company Square Inc (SQ.N), ride-hailing company Uber Technologies Inc (UBER.N), shopping app Instacart and lending startup…
Source Reuters Tech News
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