$4.3 Billion Fintech Marqeta Has Confidentially Filed to IPO in 2021

Marqeta, the U.S.-based payment card issuing startup, has filed confidentially for an initial public offering (IPO) with the Securities and Exchanges Commission (SEC), a Reuters report says…

Marqeta is now waiting on the feedback from the SEC. It wants to complete its IPO as early as April.

The value of the IPO will likely be around $10 billion as Marqeta works with Goldman Sachs and J.P. Morgan Chase, Reuters writes, citing an unnamed source.

Marqeta is based in Oakland, California and works to help companies issue credit and debit cards to staff. The company has seen more online shopping and food delivery payments through its platform since the pandemic.

Marqeta raised $150 million in a private fundraiser last May, which doubled its valuation to $4.3 billion.

One Marqeta customer, DoorDash, went public in December and has seen the value of its own stock more than double since then, Reuters writes.

Last July, Reuters also reported that Marqeta was looking at potentially hiring investment banks for its own possible IPO.

PYMNTS reported on Marqeta’s partnership with Goldman Sachs earlier this year in order to help give a boost to powering digital checking accounts for Marcus.

Marqeta said the…

Continue reading at PYMNTS.COM


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