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FT Partners Advises Marqeta on its $260,000,000 Series E Financing Led by Coatue

Overview of Transaction

  • On May 21, 2019, Marqeta announced it has raised $260 million in Series E financing led by Coatue Management
  • The round includes participation from several new investors including Vitruvian Partners, Spark Capital, Lone Pine Capital and Geodesic
  • Founded in 2010, Marqeta is the leading global modern card issuer, powered by the most advanced issuer processor platform built in over two decades
  • Marqeta’s open APIs allow a new generation of businesses, such as Square, Affirm, DoorDash, Kabbage and Instacart, to build innovative payment programs and experiences to meet the unique needs of their customers

Significance of Transaction

  • Marqeta, which has doubled its revenue for three straight years and experienced dramatic increases in spending activity on its platform, is now valued at nearly $2 billion
  • The funding will be used to accelerate Marqeta’s expansion plans, both domestically and in key global markets
  • With 300 employees, the Company recently expanded internationally, opening a European office headquartered in London

FT Partners' Role

  • FT Partners served as exclusive strategic and financial advisor to Marqeta and its board of directors
  • FT Partners previously advised Marqeta on its $45 million financing led by ICONIQ in 2018, its strategic $25 million financing led by Visa in 2017, and its $25 million Series C financing in 2015 — over this time period, Marqeta’s valuation has grown over 20x
  • This transaction demonstrates the long-term nature of many of FT Partners’ client relationships and highlights our deep domain expertise and transactional excellence across FinTech and the Payments sector