US FinTech Marqeta has seen its valuation more than double since its latest cash injection.
In Brief:
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The FinTech has raised $250mn in new funding from one investor.
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It is now worth $4.3bn and was valued at £1.9bn last March.
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Marqeta is a card issuing platform which uses API technology to help manage payments.
What does this mean?
According to Forbes, Marqeta doubled its revenue between 2018 and 2019, and it’s reportedly continuing to see growth throughout the Covid-19 crisis. The company has said the latest raise was more opportunistic than earmarked for a specific purpose.
