Multiple sources are reporting that Marqeta, a payment solution platform that focuses on providing payment card solutions to companies in the eCommerce space and beyond, has either closed or is expected to close a $250 million Series E funding round.
This funding round is a significant jump of the most recent $25 million Series D round that preceded it. To date, Marqeta’s investors include heavy hitters in the banking and payments industry such as Visa and Goldman Sachs.
In addition, the company has secured an evaluation as high as $1.875 billion, according to the same sources. That would mark a huge jump over the most recent public valuation for the company of $545 just last year.
Marqeta Payment Solution
According to the company website, Marqeta bills itself as being “designed for true innovators, the Marqeta Platform lets businesses develop, iterate, and launch the commercial-scale payment solutions they need – at unprecedented speed”.
The company has built it’s evaluation by offering payments solutions to disruptors in a number of industries, especially Fintech. In addition, the company also offers products for online travel, online retail, media buying, consumer lending, point of sale financing, and more.
Currently, the company’s product suite includes virtual cards, PCI-compliant widgets, interactive voice response, and a host of other services that make it an attractive solution for a wide variety of business problems.
It appears one of the things Marqeta plans to do with it’s new funding is significantly expand these operations and bring them to a wider market and audience. The company has recently made clear its intention to make strategic inroads to Europe as it seeks to grow its customer base beyond North American shores.
The exact details of the deal have yet to be released, so more will be known in the future. However, it’s already clear that the appetite for innovative payments solutions only continues to grow.