Marqeta eyes over USD 12 bln valuation in US IPO

Friday 4 June 2021 09:56 CET | News

Payments startup Marqeta is aiming for a valuation of more than USD 12 billion in its US initial public offering (IPO), Reuters has reported.

The company plans to sell about 45.4 million shares priced at between USD 20.00 and USD 24.00 apiece, according to a regulatory filing. It would raise over USD 1 billion at the top end of the range.

Marqeta, which helps companies issue credit and debit cards to their staff, previously disclosed that its revenue jumped more than two-fold to USD 290.3 million in 2020 as homebound customers shopped more online.

The US-based startup's platform offers a feature called "Just-In-Time Funding" that circumvents the need to maintain sufficient balances for each cardholder transaction. Funds are automatically transferred into the account at the time of the transaction.


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Keywords: Marqeta, digital payments, digital banking
Categories: Banking & Fintech
Countries: United States
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Banking & Fintech

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