Marqeta, an Oakland, Calif.-based card issuing platform provider, completed a $260m Series E funding.
The round, which values Marqeta at nearly $2 billion, was led by Coatue Management, with participation from several new investors, including Vitruvian Partners, Spark Capital, Lone Pine Capital and Geodesic. They join existing investors Visa, ICONIQ, Goldman Sachs, 83North, Granite Ventures, CommerzVentures and CreditEase.
The company intends to use the funds to accelerate its expansion plans, both domestically and in key global markets.
Led by Jason Gardner, founder and CEO, Marqeta provides a global card issuing platform, offering an advanced infrastructure and tools for building configurable payment cards.
Its open API allows companies like Square, Affirm, DoorDash, Kabbage and Instacart to customize payment cards to meet the unique needs of their customers.
The company, which has 300 employees, recently expanded internationally, opening a European office headquartered in London.