Marqeta will need to prepare for increased competition as more firms are add comparable issuing products:
Web Summit/YouTube
The company also noted that if it were counted as a singular card issuer it would be one of the 25 biggest payment card issuers in the US. Marqeta's performance has continued to surge, with its revenue doubling in 2019 — the fourth straight year it's done so — and payments volume through its platform tripling.
The issuer-processor is positioned to grow its business even further after raising funding and expanding internationally in 2019. Marqeta closed a Series E funding round worth $260 million in 2019 at a valuation of almost $2 billion. The round was oversubscribed, leading the firm to be selective about its partners, and the funding was earmarked for expansion to new regions and launching new cards. These efforts could propel Marqeta's performance to new heights as they should help it reach new companies and issue more cards than its current total of around 140 million.
The company has been aggressively growing its presence in new markets, opening itself up to new business. Marqeta
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