I’m thrilled to share that Marqeta has raised an additional $150 million in new capital, valuing the company at $4.3 billion.
We’re very fortunate to be in a great place as a company. Throughout a trying 2020, our global modern card issuing platform has provided essential infrastructure and support to our customers across industries and oceans. From powering on-demand delivery companies to the electronic delivery of stimulus checks, we feel fortunate to be at the heart of mission-critical functions during this unprecedented pandemic.
We continue to build out our platform capabilities and innovations and grow our global footprint. Several market-leading innovations like Just-in-Time Funding and Instant Issuance have allowed our platform to re-architect what is possible for enterprises issuing cards at scale. We’ve established Marqeta in the US, Canada, Europe, and Asia, launching our first transactions in Australia this year. We’re building a single global platform to define and power the future of money for the world’s leading innovators.
We were not looking to raise capital but decided to accept this offer for a clear reason, to help us accelerate our product momentum and global growth as a company. The global modern card issuing market is a multi-trillion-dollar opportunity and is growing steadily. New commerce disruptors, tech giants, and digital banks are all now relying on physical, virtual, and tokenized card products for a range of use cases, and we want Marqeta to be their de facto choice of card-issuing partner.
I founded Marqeta to empower builders to bring the most innovative products to market, wherever they are in the world, and today we’re in an even stronger position to deliver on that mission.
It is an exciting day and I’m proud of all the hard work from every Marqetan across the globe that has made this possible. Take care of yourselves, and take care of each other.
Founder and CEO, Marqeta