Meanwhile, Marqeta s current chief people officer, Lori McAdams, is stepping down. Adams plans to stay on until the role is filled.
Marqeta earns most of its revenue from interchange Samantha Lee/Business Insider
Marqeta operates on a usage-based business model, meaning that the more its customers use its card-issuing tech, the more money it earns.
In 2020, its revenue grew 103% year-over-year to $290.3 million. Largely, that growth is a result of the boom in online spending and displacement of cash brought on by the coronavirus pandemic.
The fintech prospered as a result of customers like DoorDash, Instacart, Affirm, and Klarna all enjoying massive growth in 2020. Across all its users, Marqeta processed $60.1 billion in total volumes, up 177% from 2019.
Two Sigma Ventures, and others. This round brings Socure’s total funding to $196 million, following a recent $35 million investment less than six months ago led by Sorenson Ventures.
The new financing will support Socure’s expansion across every consumer-facing vertical including online gaming, healthcare, telco, e-commerce, and on-demand services. Proceeds from the round will also accelerate product innovation as the company’s patent portfolio grows and the company continues to attract top talent.
Amit Jhawar, partner at Accel and former general manager of Venmo, will join the board of directors at Socure.
The tremendous growth in the digital identity market is part of the macro trend of businesses migrating towards digital-first online services, commerce, and transactions, including for those services once defined by physical interaction and exchange. According to
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What a difference five years makes when it comes to the People’s Republic of China.
Then B.C. premier Christy Clark was ebullient on May 9, 2016 when she boldly announced a series of collaborations with China’s largest province, Guangdong. The China-B.C. agreements covered telecommunications, massive LNG exports, educational exchanges, fishing, 5G technology, transportation, policing, construction, international trade, forestry, scientific research, ecommerce and much more.
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A glowing Clark boasted she was “greatly honoured” to “expand and strengthen co-operation” through the comprehensive range of promises, which came under the umbrella of China’s Belt and Road Initiative to expand its reach round the world.
On the heels of a $600 million fundraise earlier this year, payments giant Stripe has been on an acquisition march to continue building out its business. In the latest development, the company has acquired Bouncer, a startup based in Oakland that has built a platform to automatically run card authentications and detect fraud in card-based […]
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