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Payment Start-Up Marqeta, Backed By Visa/Goldman, Looking Forward To 2021 IPO Garnering A $10B Valuation

By John F. Heerdink, Jr.

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.

To learn more about Visa (V) and The Goldman Sachs Group, Inc. (GS) to track thier ongoing progress please visit the Vista Partners Visa (V), Coverage Page. and Vista Partners Goldman Sachs Group, Inc. (GS), Coverage Page respectively.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: Visa-Backed Marqeta Targets $10 Billion Valuation in 2021 IPO in Bloomberg)


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