Card issuing company Marqeta has received an investment from Mastercard, alongside a deepening of their global partnership.
With the extra support and funds, Marqeta will expand into new geographies, open access to new products and launch new card programmes with Mastercard.
The two companies have been working together since 2014 to help FinTechs, digital banks and commerce disruptors across North America and Europe develop card products. As part of the expansion plans, the company is looking to enter new markets in Asia Pacific.
Marqeta will also participate in Mastercard’s digital enablement programmes like Digital First and Fintech Express.
Mastercard executive vice president Sherri Haymond said, “With a shared vision to provide innovative and flexible financial products and solutions to our customers, we’re thrilled to expand our partnership with Marqeta.
“We look forward to collaborating with Marqeta through this next stage of growth and enabling our joint partners to tap into capabilities that deliver differenexplore an initial public offering tiated experiences.”
Earlier in the year, Marqeta doubled its valuation to $4.3bn after the close of a $150m funding round. This has led to rumours the company will later in the year or in 2021.
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