Marqeta beats valuation prediction in US listing

Marqeta has reportedly reached a valuation of $15 billion following its initial public offering.

Last week it was reported that the company, which is backed by Uber and hedge fund Coatue, was aiming for a valuation of around $12 billion in the listing.

According to a report from Reuters, the US payments start-up priced its listing well above the target range to raise $1.2 billion.

The company had previously set a share range of $20 to $24, but ended up selling 45.45 million shares at $27 per share.

“Today represents an exciting milestone for our company and our mission to be the global standard for modern card issuing,” said the company in a statement. “In 2010, Marqeta’s founder and chief executive, Jason Gardner, set out to simplify the complex and change what’s possible with commercial and consumer card programs.”

Marqeta currently has 500 employees in 35 countries, and its customers include Uber, Doordash, Klarna, Square, and JP Morgan.

The California-based company, which competes with older payments providers like Fiserv and FIS alongside newer companies like Stripe and Adyen, saw its revenue more than double to $290 million last year.

The valuation of the company also increased two-fold to $4.3 billion in 2020, following a $150 million funding round.

    Share Story:

Recent Stories


The Future of Intelligent Finance
FStech Group Editor Mark Evans sits down with Jason Cao, President of Global Financial Services Business Unit, Enterprise BG at Huawei ahead of its Intelligent Finance Summit which was held on 3rd and 4th of June in Shanghai. This Q&A delves into key trends in digital transformation of the financial services industry as well as a look at how data, robotic infrastructure, intelligent storage and innovative technologies are shaping the future for FSIs.

The Rise of Instant Payments
Instant payments are creating new business opportunities for banks by providing more touchpoints than ever. With these evolutions underway, Featurespace brought leading industry experts together to discuss how they are protecting customers from fraudsters in real time, utilizing innovative and disruptive solutions to reduce fraud. Click here to find out more.

Offloading Cyber Risk in the Cloud
As cyber attacks and data breaches are in the news on an increasingly regular basis - with regulatory penalties and customer trust on the line for financial services firms - it has never been more crucial to be compliant in the cloud.

This video, with Akamai’s EMEA director of security technology and strategy Richard Meeus, will help explain what your company can be doing to make sure it’s not embroiled in the next big fine or front-page scandal.