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Card issuing outfit Marqeta signs first European firms

Card issuing outfit Marqeta signs first European firms

California-based open API card issuing and processing platform Marqeta is driving ahead with its global expansion efforts, signing up its first four European customers.

French digital bank Morning, Swiss contemporary Yapeal, and Spanish POS lender Aplazame have all signed on to the platform.

Marqeta says that its platform and Just-In-Time Funding feature allows companies of all sizes to authorise their own card transactions, fundamentally changing how they engage with issuing and processing.

Developers on Marqeta’s platform can sign up for a sandbox in under a minute and then leverage a set of card controls and configurations to get a fully funded card programme to market in a matter of days.

With Instacart, Square, Affirm, Kabbage and Alipay among its users, the company was recently reported to be on the verge of a $250 million Series E round at a $1.875 billion valuation.

Ian Johnson, head, European growth, Marqeta, says: "We see the UK and Europe as a key market as we continue to expand our global footprint and the first step in a much larger international expansion.

"It has a thriving ecosystem of digital banks and fintech startups that have already had a lot of success in market. To be able to bring on customers of this calibre is true validation of the global possibilities around modern card issuing and of our early work in the market."

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