Marqeta bags $260M, quadruples valuation to ~$2B

Fintech startup Marqeta has raised a $260 million Series E led by Coatue Management, with participation from Vitruvian Partners, Spark Capital and other investors. The business claims the round brings its valuation to nearly $2 billion, roughly 4x the $500 million valuation it attained last June.

Founded in 2010 and based in Oakland, CA, Marqeta operates a platform that helps third-party clients such as Square, Affirm, DoorDash and Instacart issue, process and manage payment cards. The company had raised more than $115 million in prior funding from backers including Granite Ventures, Commerce Ventures and 83North. Here's a look back at Marqeta's previous funding rounds:

June 2011: $5.8M round | $15.4M valuation
March 2013: $14M | $93.7M
April 2015: $25M | $125M
July 2017: $25M | $450M
June 2018: $45M | $500M

Related read: How legacy payments companies lean on M&A to compete with startups

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