Marqeta Raises $45M for Global Payment Card Expansion

Oakland-based Marqeta, a startup specializing in payment-card services for businesses, has successfully raised $45 million in a Series D funding extension. The round was led by Iconiq Capital, with participation from Goldman Sachs and other existing investors. This infusion of capital is earmarked for further development of Marqeta's innovative payment solutions and to support its international expansion efforts.

Marqeta's rapid growth is underscored by a doubling of its payment volume in the past six months and a fourfold projected increase for its virtual card business this year. The company, which partners with major networks like Visa and Mastercard, provides services such as instant card issuance and branded credit card programs to businesses in e-commerce, lending, and other sectors. Its developer-friendly approach, offering services via API, has attracted a diverse customer base including Square, Instacart, and Kabbage.

This latest funding brings Marqeta's total raised to $116 million. The company's advanced card-issuing technology and expanding digital wallet capabilities, including SDKs for Apple Pay and Google Pay, position it as a leader in modern card issuing. Marqeta's ongoing focus on streamlining and enhancing transaction security aims to further solidify its presence in the competitive digital payments landscape.