OAKLAND, Calif.--(BUSINESS WIRE)--Marqeta, whose advanced payments infrastructure and open-API platform has pioneered a new standard for modern card issuing, today announced that it has been named to Forbes’ prestigious annual Fintech 50 list. This is its first appearance on the list and validates the company’s innovation and market leadership among the current wave of innovation in the financial technology industry.
Forbes’ Fintech 50 list honors companies in the industry with the greatest impact and track record of innovation. The media outlet also considered recent rate of growth and how that compared to overall growth in their categories. “More than anything, we look for companies leading industry-changing innovation,” Jeff Kauflin, a Forbes Staff writer, explained in this year’s call for entries. “This often means they’re regularly releasing new products or features or making big strategic improvements — not simply benefitting from products that look largely the same as they did a decade ago.”
Marqeta has transformed the payment card issuing and processing arena with its Modern Card Issuing solution, the first of its kind aimed at developers and technology-first innovators. Its payment card platform helps companies easily issue physical, virtual, or tokenized payment cards, helping them deliver better customer experiences and business outcomes faster in a more mobile and connected economy.
Founded in 2010, Marqeta is the first new issuer processor platform built in a decade. Prior to Marqeta, companies who needed a card product to support their business struggled with a lack of options, slow time-to-market, and inability to iterate. Marqeta’s open APIs expedite the introduction of new and innovative payment programs and experiences, allowing businesses to customize payment cards to meet the unique needs of their customers.
“Recognition as a leading innovator in fintech is tremendous validation for the hard work we’ve done at Marqeta to open the industry up to the possibilities and opportunities of modern card issuing,” said Jason Gardner, CEO and founder of Marqeta. “We’re a people-driven organization, with a culture characterized by grit and commitment to finding a way to move the payments industry forward. I’m thankful to everyone who has played a part in our tremendous growth.”
Marqeta has doubled its revenue for three straight years and seen a dramatic increase in spending activity on its platform in that same time. It has 250 employees and has added 100 employees in each of the last two years, with plans to continue its team growth rate in 2019. It has attracted more than $116 million in funding from investors including Goldman Sachs, Iconiq Capital, 83North and Visa. In October 2018 it expanded internationally, opening a European office based in London.
Marqeta is the global standard for modern card issuing, providing the most advanced infrastructure and tools for building highly configurable payment cards. With its open API, the Marqeta platform is designed for innovators who want a simplified way of managing payment programs so that they can create world-class experiences and power new modes of commerce. Marqeta is headquartered in Oakland, California. For more information, visit www.marqeta.com, Twitter and LinkedIn.