Marqeta Raises $45M for Card Issuing Infrastructure Platform

Marqeta, a leading card issuing infrastructure company, closed a $45 million funding round in June 2018. The company provides APIs and a modern platform that allows businesses to issue and manage physical and virtual payment cards without building direct bank relationships themselves. Marqeta's infrastructure sits at the core of the BaaS ecosystem, enabling fintechs, on-demand platforms, and enterprises to embed card-based payment functionality into their products.

The platform handles card issuance, transaction processing, and real-time authorization through its Just-in-Time funding technology. This funding round was intended to accelerate product development and expand Marqeta's customer base. The raise signaled growing investor confidence in infrastructure-layer BaaS providers that enable embedded finance at scale.