• FOUNDING YEAR: 2010
    LOCATION:
    United States
    REGION:
    California
    Last Update:
    18 Oct, 2019
    Phone:
    +1 888-462-7738

Description

FOCUS

PRODUCTS & SERVICES:
Processing & program management, multi merchant commerce, API devlopers, and loyalty cards.
REVENUE MODEL:
Viewable by subscribers only
MAIN CLIENTS:
Facebook, Oink, and eBay Now.
EXISTING PARTNERSHIPS:
Affirm, DoorDash, Hyperwallet, and Kabbage.
PRIMARY PROBLEM SOLVED:
Bypassing the limitations of legacy payments infrastructure, Marqeta has built turnkey solutions (including the world's first issuer processing Open API) to offer new capabilities to merchants & program managers. Many of these new capabilities either are not being offered by traditional players, or require tremendous amounts of programming and development work for implementation.

PEOPLE

FOUNDERS:
Jason Gardner
Board Members and Advisors:
Osama Bedier, Christopher McKay, Andrew Lerner, Deepak Masand, Moshe Mor
NUMBER OF EMPLOYEES:
51-200
INVESTORS:
Commerce Ventures, Granite Ventures, 83North, CommerzVentures GmbH, IA Capital Group, Max Levchin, ICONIQ Capital, and Goldman Sachs.
COMMENT:
In 2004, Jason co-founded and served as President of PropertyBridge, which became the leading rent and lease-related payment platform for multifamily real estate. PropertyBridge gave renters multiple options for paying their rent and simplified the handling and reconciliation processes for property managers. MoneyGram International (MGI) acquired PropertyBridge and Jason became a vice president and member of the executive team.

TRACTION

VALUATION / MARKET CAP:
$545 MM in 2018
VALUATION COMMENT
According to third-party data sources, the company's valuation is at $545 million. (June 2018)
REVENUE COMMENT:
Viewable by subscribers only

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$116.3 Millions
DATE OF LAST FUNDING:
Jun 2018
TOTAL FUNDING COMMENT:
The company will use the funds to expand business globally and focus on developing more solutions. (June 2018)
FUNDING SERIES:
SERIES A
$5.6 Millions Closed: Jun 2011
SERIES B
$15.7 Millions Closed: May 2013
SERIES C
$25 Millions Closed: Oct 2015
SERIES D
$70 Millions Closed: Jun 2018
LISTED:
NO

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