Marqeta, an Oakland, CA-based open-API platform for card issuing, raised $45m in funding.
The round, which brings total funding to $116m, was led by Iconiq Capital, with participation from Goldman Sachs and existing investors.
The company intends to use the funds to extend its leadership in innovative consumer and commercial card solutions, and to accelerate its domestic and international growth.
Led by founder and CEO Jason Gardner, Marqeta built a cloud-based, developer-friendly, card issuing and core processing platform system powering physical, virtual and tokenized cards. In 2017, the company announced several new products including:
- the Marqeta Digital Wallet SDK for Apple Pay and Google Pay, and
- Marqeta.js, and Marqeta’s Virtual Card Wizard.
Using this technology, businesses can build customized, PCI-compliant card experiences that have not been possible on legacy platforms.
The system already powers card programs for industry leaders such as Instacart, Square, Affirm, Kabbage, Alipay and several others.