Fintech Marqeta Files to Go Public -- Here s What You Need to Know
fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.
Fintech Marqeta Files to Go Public -- Here s What You Need to Know
fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.
in 2020, annual revenue more than doubled to $290.3 million, and the company recorded a loss of $47.7 million.
Founded in 2010 and based in Oakland, California, Marqeta sells payment technology that s designed to detect potential fraud and ensure that money is properly routed. The company issues customized physical cards, which look like credit and debit cards, which contractors from DoorDash or Instacart use to make point-of-sale purchases from restaurants or supermarkets.
Many of Marqeta s top customers are coming off record years as the pandemic pushed commerce to mobile devices. In addition to meal-delivery companies, Marqeta powers Square s debit card for small business owners and its popular Cash App for peer-to-peer payments. Affirm and Klarna, which provide small-dollar lending to consumers for purchases like bikes and TVs, use Marqeta s technology to move money with their installment loans.