US-based payment card issuing platform operator Marqeta raised $45m in an extension to its series D round yesterday that featured investment bank Goldman Sachs and was led by Iconiq Capital.
Existing, unnamed investors also participated in the round, which brought Marqeta’s total equity raised to date to $116m.
Founded in 2010, Marqeta operates a cloud-based platform for enterprise clients to issue and process their own physical, virtual and tokenised cards. The company also offers additional products, such as a digital wallet software development kit for Apple Pay and Google Pay.
The funding will help Marqeta strengthen its market leadership and expand both in the US and internationally.
Payment services firm Visa previously led a $25m series D round in July 2017 that also featured CommerzVentures, the venture capital arm of financial services firm Commerzbank, online lending platform CreditEase, Commerce Ventures, 83 North, Granite Ventures and IA Capital.
CommerzVentures had previously contributed to a $25m series C round in 2015, investing alongisde IA Capital, 83North, Granite Ventures, Commerce Ventures and Max Levchin, a co-founder of online payment platform PayPal.
An earlier version of this article described the funding as a series E round.