Marqeta Raises $14M in Series B Funding

Marqeta, an Emeryville, Calif.-based provider of a commerce and payments platform, raised $14m in Series B funding.

The company intends to use the capital to introduce new platform features and expand nationally.

Backers included existing investors Greylock IL (an affiliate fund of Greylock Partners), Granite Ventures, new investor Commerce Ventures, a new angel and other unnamed strategic investors.

Launched in 2010, Jason Gardner, CEO, Marqeta provides APIs and full-service platform to offer retailers, issuers, program managers, and other large enterprises a solution for gifting, loyalty, promotions, cash back offers, charitable donations, etc.

In 2012, the company launched its own branded prepaid loyalty program in the San Francisco Bay Area, which allows merchants to give consumers money to spend in grocery, restaurants, dry cleaning and beyond.



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