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Card issuing platform Marqeta secures $260M in series E round

Marqeta Inc. raised $260 million in a series E financing round led by Coatue Management LLC.

The latest round values the Oakland, Calif.-based modern card issuing platform at about $2 billion. It intends to use the capital to expand in domestic and key global markets.

New investors including Vitruvian Partners LLP, Spark Capital Partners LLC, Lone Pine Capital LLC and Geodesic Capital joined the round, as well as existing investors including Visa Inc., Iconiq Capital LLC, Goldman Sachs Group Inc., 83North Ltd., Granite Ventures LLC, CommerzVentures GmbH and Creditease Corp.

Marqeta secured $70.0 million in a series D round in June 2018.

FT Partners was the exclusive strategic and financial adviser to Marqeta and its board.