Marqeta, an Emeryville, California-based Open API issuer processor platform, closed a $25m Series C funding round.
Backers included IA Capital, the team behind NetSpend, CommerzVentures, Max Levchin, 83North, Granite Ventures and Commerce Ventures.
The company, which has raised $46m in total, will use the funds to expand its market reach in the US, to invest in its Open API platform and initiate international expansion in North America and Europe in 2016.
Founded in 2010 by Jason Gardner, CEO, Marqeta provides an open API issuer processor platform that allows companies to build, issue and deploy innovative payment, finance and commerce solutions with control over what, where, and how purchases are authorized.
The Marqeta Platform integrates with Visa, MasterCard and Discover.
Adopters include leading financial services, e-commerce, retail, and social media The Customers list includes Facebook, Bento for Business, Perk, Affirm, DoorDash, HyperWallet and Kabbage.