07 June 2021

Marqeta’s IPO could value the card issuer at $12bn

Written By FinTech Alliance

Marqeta’s IPO could value the card issuer at $12bn

Card issuing giant Marqeta is set to float on the stock market on 9 June. 

In Brief:

Marqeta was founded in 2010 and its biggest customer is FinTech giant Square. 

It hopes to raise $1bn which would value the business at $12bn. 

It’ll offer 45mn Class A shares, while its CEO and early investors retain more “powerful” Class B shares. 

What does this mean?

Many of the most popular FinTechs began by offering customers a pre-paid card, and personalising this is exactly what Marqeta offers. Since 2010, the business states it has become a “card-issuing platform category leader” across a number of areas such as alternative lending, expense management and digital banks. 

Read more here. 

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