Card issuing platform Marqeta has raised an additional $150 million in new capital from a "leading institutional investor", valuing the company at $4.3 billion.

This latest investment follows its $260 million equity financing in May 2019, which was led by Coatue and included participation from Vitruvian Partners. Marqeta is also backed by Visa, Goldman Sachs, 83North, Granite Ventures and ICONIQ Capital.

Founder and chief executive Jason Gardner commented: “We’re building a single global platform to define and power the future of money for the world’s leading innovators - this new capital helps us accelerate our mission to empower builders to bring the most innovative products to market, wherever they are in the world.”

With innovations like Just-in-Time Funding and Instant Issuance, Marqeta stated that its platform has helped to re-architect what is possible for enterprises issuing cards at scale.

Arnon Dinur, Partner at 83North, one of Marqeta’s early backers, said: "Jason and the team have done an exceptional job scaling their business and platform in the US and expanding its international footprint across Europe and Asia-Pacific."

Founded in 2010, Marqeta supports the likes of Square, Uber, Affirm, Instacart and DoorDash, by providing the infrastructure and tools for building payment solutions via its open Application Programming Interface. It operates in the US, Canada, Europe and Australia - and is certified to process payments in 10 countries in Asia Pacific.

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