Marqeta, a payments startup supported by Goldman Sachs Group Inc. (GS) and Visa Inc. (V) has hired underwriters for a planned 2021 initial public offering, as per reports. The company is working with Goldman and JPMorgan Chase & Co. on the listing, probably seeking a valuation of about $10 billion.
Marqeta, Oakland, the California-based company headed by Chief Executive Officer Jason Gardner, entered a deal with Uber Technologies Inc. to become its global card-issuing partner, and in July JPMorgan informed it would use the firm’s technology in its commercial card business.
Earlier in May, the company raised $150 million at a $4.3 billion valuation. Its other backers include Granite Ventures, Iconiq Capital, 83North, and Coatue.
A spokesperson for JPMorgan, Marqeta, and Goldman Sachs declined to comment on the matter.
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