Marqeta expands into Europe

Source: Marqeta

Marqeta, the open-API platform pioneering the future of modern card issuing, today announced its expansion into the European market. In collaboration with strategic partner Visa, Marqeta has acquired new customers and opened a London office led by a team of U.K.-based industry experts.

Marqeta is leveraging its success in the U.S. and Canada to expand its platform for modern card issuing.

With this launch, payment innovators across Europe and the U.K. will now have access to Marqeta’s modern payments platform — offering them the most advanced infrastructure and essential tools to reliably support the growth and scale of their businesses.

Leading the effort is Marqeta’s head of European growth, Ian Johnson. “Marqeta is already among the global leaders in modern card issuing, and we are pleased that our physical footprint is officially expanding,” said Johnson. “We’re excited to partner with the many innovative companies in Europe which are building better consumer and business experiences — and to enable their success.”

"The U.K. and Europe are seeing an explosion of payments innovators right now, making flexibility and speed to market more important than ever before," said Bill Gajda, SVP of strategic partnerships at Visa. "Visa’s partnership with Marqeta enables them to offer entrepreneurs of any size a fast, easy way to become an issuer, giving consumers throughout Europe exciting new ways to pay."

Bringing Modern Card Issuing to European Payments Innovators

Marqeta’s open-API platform is designed for innovators who want a simplified way of managing payment programs:

Digital banking providers can create exceptional user experiences with instant issuance into their mobile apps, with seamless in-app provisioning into Apple Pay and Google Pay
Online travel agencies can control payment authorization decisioning and gain deeper end-to-end visibility into transactions — from booking to check-in
On-demand delivery companies can seamlessly add merchants, onboard couriers quickly, and reduce the risk of fraud
Expense management companies can easily configure purchase cards, control expenses, and gain real-time visibility and data on employee spend
Retailers can instantly pay multiple suppliers, easily navigate elaborate purchase flows, and cleanly reconcile transactions, track shipments, and refund returns
Small business and consumer lenders can allow end users to access funding immediately, improve customer loyalty, and reduce risk through meaningful data

Powering the World’s Most Loved Fintechs and Startups

Founded in 2010, Marqeta provides businesses with essential tools and infrastructure they need to develop, iterate, and launch commercial-scale payment solutions. The company has raised $116 million in venture capital to date, most recently a $45 million strategic investment led by Iconiq Capital and with participation from Goldman Sachs. Marqeta counts among its current customers:

Financial services companies Affirm and Acima
On-demand delivery startups Instacart and DoorDash
Small business lenders Kabbage and Qwil
Corporate card providers Brex and TeamPay
Ecommerce aggregator ConnexPay

“The European market for card issuing is enormous, but many platforms have not evolved to meet the needs of commerce and financial services innovators,” said Marqeta founder and CEO Jason Gardner. “In early conversations over the past few years, we were amazed by the need and demand for a modern, flexible approach. We’re proud to make our technology and expertise available to new partners in the U.K. and Europe.”
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This content is contributed or sourced from third parties but has been subject to Finextra editorial review.

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