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Marqeta | Private Company Profile

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Marqeta | Private Company Profile Generated by PitchBook Last Updated: 05-Apr-2021 pbId: 54330-13 Marqeta | Private Company Profile Highlights PitchBook Analyst Coverage Employees 562 As of 24-Mar-2021 Last Deal Details Post Valuation $10.00B E $4.30B E IPO 18-Feb-2021 As of 28-May-2020 Total Raised to Date Valuation Step-up $526.95M 2.20x As of 18-Feb-2021 Series E - Series E1 General Information Description Developer of an application programming interface payment platform designed to offer card issuing and payment processing services. The company's platform offers a set of controls and configurations to meet the needs of on-demand service businesses, alternative lenders as well as those looking for payouts for workers, flexible expense management and scalable, secure virtual card transactions, enabling developers and financial institutions to get a simplified way of managing payment programs. Most Recent Financing Status (as of 25-Feb-2021) The company filed to go public on February 18, 2021. The expected offering amount is $10 billion. Previously, the company received an undisclosed amount of financing from MasterCard (NYS:MA) on October 8, 2020. Prior to this, an undisclosed investor sold its stake in the company to Discovery Capital Management for an undisclosed amount on August 26, 2020. Earlier, the company raised $150 million of Series E1 venture funding from Vitruvian Partners and 7 other investors on May 28, 2020, putting the company's pre-money valuation at $4.15 billion. The company will use the funding to accelerate product development and international growth. The company is being actively tracked by PitchBook. Entity Types Private Company Year Founded 2009 Acquirer Universe Venture Capital Website www.marqeta.com SIC Code (7372) Services-prepackaged software Legal Name Marqeta, Inc. Employees 562 Business Status Generating Revenue Ownership Status In IPO Registration Financing Status Venture Capital-Backed Industries, Verticals & Keywords 1 Primary Industry Verticals Keywords Financial Software B2B Payments virtual card processing FinTech issuer-processor platform Other Industries TMT digital banking Other Financial Services transaction processing payment and processing vertical card issuing platform payment processor Appears in PitchBook Analyst Market Map Q4 2020 Fintech Q2 2020 - Fintech Q2 2020 - Fintech - Payments 603 Companies | Robert Le 508 Companies | Robert Le 71 Companies | Robert Le Q1 2020 - FinTech 463 Companies | Robert Le Contact Information Primary Contact Primary Office Jason Gardner 180 Grand Avenue Founder, Chief Executive Officer & Board Member 6th Floor [email protected] Oakland, CA 94612 Phone: +1 (510) 241-2132 United States Phone: +1 (510) 241-2132 Alternate Offices Cheltenham London Carrick House, Lypiatt Road 84 Eccleston Square Cheltenham GL50 2QJ Pimlico England, United Kingdom London SW1V 1PX England, United Kingdom Manchester 3 Hardman Square Landmark Manchester M3 3EB England, United Kingdom Top 5 Similar Companies # Name Competitor Financing HQ Primary Industry Year Last Financing Last Financing Amount Status Location Founded Date/Type 2 1 Veem Venture San Financial Software 2014 2020/Series C1 $31.00M Capital- Francisco, Backed CA 2 Paymill Formerly Munich, Other Financial 2012 2016/M&A VC-backed Germany Services 3 Payworks Formerly Munich, Financial Software 2012 2019/M&A VC-backed Germany 4 QRails Venture Denver, Financial Software 2016 2021/Early Stage $3.01M Capital- CO VC Backed 5 Stripe Venture San Financial Software 2009 2021/Series H $600.00M Capital- Francisco, Backed CA Comparisons Marqeta Veem Paymill Payworks Description Developer of an application Developer of a payment Provider of a platform for Provider of a payment programming interface platform designed to online payment. gateway platform intended payment platform designed change the legacy financial to transform Point of Sale. to offer card issuing and payment system through payment processing innovation. services. Primary Industry Financial Software Financial Software Other Financial Services Financial Software HQ Location Oakland, CA San Francisco, CA Munich, Germany Munich, Germany Employees 562 | 2021 118 | 2020 51 | 2016 100 | 2020 Total Raised $526.95M $96.44M $22.08M $19.00M Post Valuation $4.30B E | 27-May-2020 $216.00M E | 06-Aug-2020 - $61.40M E | 13-Feb-2018 Last Financing Details $10.00B | 2021/IPO $31.00M | 2020/Later Stage Undisclosed amount | Undisclosed amount | VC (Series C1) 2016/Merger/Acquisition 2019/Merger/Acquisition Market Cap - - - - Stock Price - - - - E Estimated Current Team (10) Name Title Board Office Phone Email Seats Jason Gardner Founder, Chief 1 Oakland, CA +1 (510) 241-2132 [email protected] Executive Officer & Board Member Tripp Faix Chief Financial Officer Oakland, CA +1 (650) 944-2221 [email protected] Seth Weissman Chief Legal Officer Oakland, CA +1 (510) 241-2132 [email protected] 3 Vidya Peters Chief Marketing Officer 2 Oakland, CA +1 (510) 241-2132 [email protected] Lori McAdams Chief People Officer Oakland, CA +1 (510) 241-2132 [email protected] Omri Dahan Chief Revenue Officer Oakland, CA +1 (510) 241-2132 [email protected] James Robinson Director of Corporate Oakland, CA +1 (510) 241-2132 [email protected] Communications Jeannie Chen Director of Finance Oakland, CA +1 (510) 241-2132 [email protected] Kevin Doerr Chief Product Officer Oakland, CA +1 (510) 241-2132 [email protected] Claire Roberts Vice President, Risk Oakland, CA +1 (510) 241-2132 [email protected] and Compliance Current Board Members (7) Name Title Representing Role Since Phone Email Andrew Lerner Managing Partner & IA Capital Group Board Oct 2015 +1 (212) [email protected] Investment Committee Observer 581-2000 Member Arnon Dinur Partner 83North Board Jun 2011 +972 (0)9 [email protected] Member 958 0007 Christopher Managing Director Granite Ventures Board Jun 2011 +1 (415) [email protected] McKay Member 591-7700 x707 Jason Gardner Founder, Chief Marqeta Founder, Jan 2009 +1 (510) [email protected] Executive Officer & Chief 241-2132 Board Member Executive Officer & Board Member Judson Linville Board Member Board Member Martha Board Member Marqeta Board Jan 2021 +1 (510) Cummings Member 241-2132 Moshe Mor Founding Partner Greylock Partners Board Member Deal History (11) # Deal Type Date Amount Raised to Pre-Val Post-Val Status Stage Date 4 11. IPO 18-Feb-2021 $10.00B E $526.95M Announced Generating Revenue 10. Corporate 08-Oct-2020 $526.95M Completed Generating Revenue 9. Secondary 26-Aug-2020 $526.95M Completed Generating Transaction - Private Revenue 8. Later Stage VC 28-May-2020 $150.00M $526.95M $4.15B $4.30B E Completed Generating (Series E1) Revenue 7. Later Stage VC 21-May-2019 $260.00M $376.95M $1.63B $1.89B Completed Generating (Series E) Revenue 6. Secondary 19-Jun-2018 $116.95M Completed Generating Transaction - Private Revenue 5. Later Stage VC 05-Jun-2018 $70.00M $116.95M $475.00M $545.00M E Completed Generating (Series D) Revenue 4. Later Stage VC $1.22M $46.95M Completed Generating Revenue 3. Later Stage VC 27-Apr-2015 $25.00M $46.00M $100.00M $125.00M Completed Generating (Series C) Revenue 2. Early Stage VC 04-Mar-2013 $14.00M $19.78M $79.70M $93.70M Completed Generating (Series B) Revenue 1. Early Stage VC 14-Jun-2011 $5.78M $5.78M $9.66M $15.44M Completed Startup (Series A) † Indicates an Add-On E Estimated CAP TABLE HISTORY (as of 21-May-2019) Stock # Of Shares Par Value Dividend Original Liquidation Liquidation Conversion % Authorized Rate (%) Issue Price Pref. Multiple Price Owned Series 66,824,303 $0.000100 8.00% $3.89 $3.89 1x $3.89 20.63% E Series 33,185,681 $0.000100 8.00% $1.21 $1.21 1x $1.21 10.25% D1 Series 28,734,078 $0.000100 8.00% $1.21 $1.21 1x $1.21 8.87% D Series 68,540,061 $0.000100 8.00% $0.35 $0.35 1x $0.35 21.16% C Series 58,408,050 $0.000100 8.00% $0.29 $0.29 1x $0.29 18.04% B Series 98,552,175 $0.000100 8.00% $0.06 $0.06 1x $0.06 30.43% A Series Terms for: A, B, C, D, D1, E (as of 21-May-2019) Liquidation Preferences Senior Cumulative/Non-cumulative Non-Cumulative Participating vs. Non-participating Non-participating Anti-dilution Provisions Weighted Participation Cap (Multiple) 1.00x Average Dividend Rights Yes Redemption Rights No General Voting Rights Yes Deal #11: IPO, $10B, Announced/In Progress; 18-Feb-2021 5 Deal Types IPO Financing Venture Capital- CEO/Lead Mgt Jason Gardner Status Backed Deal Amount $10.00B E Site Oakland, CA Financing Public Investment Deal Status Announced/In Progress # of 550 Source Employees Deal Date 18-Feb-2021 ** Raised to Date $526.95M Business Generating Announced Date 18-Feb-2021 Status Revenue Deal Synopsis The company filed to go public on February 18, 2021. The expected offering amount is $10 billion. ‡ Not necessarily a summation of individual debt figures ** Includes $0.95M of known debt; Does not include grant funding E Estimated Sellers/Exiters (33) # Seller/Exiter Name Partial/Full Comments 1. 83North 2. Black River Ventures 3. Catapult VC Full % Company Still 0.00% Held: 4. Coatue Management 5. Commerce Ventures 6. CommerzVentures 7. CreditEase 8. Daintree.VC 9. Discovery Capital Management 10. GEM Capital 11. Geodesic Capital 12. Glean Capital 13. Goldman Sachs Growth Equity 14. Granite Ventures 15. Greyhound Capital 16. Greylock Partners 17. Hard Yaka 6 18. IA Capital Group 19. ICONIQ Capital 20. Kow Mensah 21. Late Stage Management 22. Lauder Partners 23. Lone Pine Capital 24. MasterCard 25. Max Levchin 26. Polyvalent Capital Full % Company Still 0.00% Held: 27. PV Seed Fund 28. Sax Capital 29. SharesPost
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