Marqeta, an Oakland, CA-based card issuing platform, raised an additional $150m in new funding, valuing the company at $4.3 billion.
The round was led by Coatue with participation from Vitruvian Partners and several others. It is also backed by Visa, Goldman Sachs, 83North, Granite Ventures, and ICONIQ Capital.
The company intends to use the funds to expand operations and its business reach.
Founded in 2010 and led by Jason Gardner, CEO, Marqeta is a global modern card issuing platform for innovators including Square, Uber, Affirm, Instacart, and DoorDash to manage payment programs. It operates in the United States, Canada, Europe, and Australia and is certified to process payments in 10 countries in APAC.
By the end of 2019, more than 140 million cards had been issued through the platform.