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Marqeta, Inc. (symbol: MQ) is at the forefront of payment technology, providing a cutting-edge platform for issuing digital, physical, and tokenized payment options. Founded in 2010 and headquartered in Oakland, California, Marqeta has re-engineered how payment cards and mobile authorization products are developed and deployed. The company’s fully documented, open API issuer processor platform offers unparalleled control over how transactions are authorized, enabling companies to build, issue, and deploy innovative payment solutions.
The Marqeta platform is designed from the ground up without any legacy infrastructure, ensuring it is both modern and flexible. It integrates seamlessly with major payment networks like Visa, MasterCard, and Discover, making it easier for businesses to facilitate payments, reward customers, and improve operational efficiency. Clients include top-tier brands in financial services, e-commerce, retail, and social media, such as DoorDash, Klarna, and Block.
Engineered in California, the Marqeta platform supports a wide range of use cases, from on-demand delivery services to point-of-sale financing. The company generates revenue primarily through processing and ATM fees related to the cards issued on its platform.
Marqeta’s commitment to innovation is evident in its recent achievements and ongoing projects. Continuous enhancements to its API capabilities allow for rapid deployment of new products, maintaining Marqeta’s competitive edge in the industry. For more information, visit www.marqeta.com.
Marqeta, Inc. (NASDAQ: MQ) reported substantial growth in its Q4 2021 results, with $155 million in net revenue, a 76% increase year-over-year, and $33 billion in total processing volume, also up 76%. Annual revenue climbed to $517 million, a 78% increase, while total processing volume rose to $111 billion (up 85%). Despite a GAAP net loss of $37 million in Q4 and $164 million for the year, gross profit increased significantly, reaching $76 million for Q4 (up 108%) and $232 million for the full year (up 97%). Guidance for Q1 2022 indicates net revenue growth of 48-50%.
Marqeta collaborates with Citi Commercial Cards to enhance payment options through its tokenization technology, allowing corporate clients to provision cards into mobile wallets. This service will be implemented in over 40 countries, supporting the growing demand for digital payments. The global shift towards mobile wallets is evident, with projections indicating they will account for one-third of all POS transactions by 2024. Marqeta aims to strengthen its partnership with Citi, focusing on innovative solutions for seamless and secure payment processing.
Marqeta (NASDAQ: MQ) has partnered with Plaid to enhance ACH transfers, enabling customers to quickly authenticate bank accounts and fund their accounts for immediate spending. This collaboration simplifies the ACH transaction process, allowing users to manage transfers with real-time notifications. The partnership also improves security by minimizing the storage of sensitive information, using tokenization instead. This integration aims to streamline user access to financial services and represents a significant advancement in the modern card issuing landscape.
Marqeta (NASDAQ: MQ) has appointed Mike Milotich as Chief Financial Officer effective February 22, 2022. Milotich joins from Visa with over 20 years of experience in corporate finance.
The company anticipates exceeding prior guidance for net revenue and adjusted EBITDA for Q4 2021, driven by higher processing volumes. However, the preliminary results are subject to financial closing procedures and could change.
Outgoing CFO Tripp Faix will assist with the transition until March 31, 2022.
Marqeta, Inc. (NASDAQ: MQ) will host a conference call and webcast on March 9, 2022, at 4:30 pm ET, to discuss its financial results for the fourth quarter and full year 2021. The call will feature CEO Jason Gardner and CFO Tripp Faix. A press release containing the financial results will be issued after market close that day. Investors can access the call via Marqeta's investor relations website, with a replay available afterwards.
Marqeta, a global card issuing platform, has expanded its services with new certifications in Singapore, Philippines, and Thailand, bringing its total to 39 countries. The company aims to establish Singapore as its Asia Pacific regional hub in 2022, enhancing support for regional fintechs seeking to modernize payment infrastructures. This move reflects Marqeta's strategy to empower clients with innovative, customizable payment solutions powered by open APIs, ultimately facilitating global expansion.
Marqeta (NASDAQ: MQ) has appointed Sunaina Lobo as Chief Human Resources Officer to enhance its People and Culture function globally. Lobo, previously with Navis, brings extensive experience from several global firms, focusing on innovation and inclusivity. CEO Jason Gardner emphasized her potential to foster an exceptional team and improve company culture as Marqeta scales internationally. Recognized as a top workplace, Marqeta is poised for significant growth in 2022 with plans for further global expansion.
Samotics, a leader in energy efficiency insights, has secured EUR 14.5 million in a Series A funding round led by 83North. Their AI-based SaaS platform analyzes electric motor systems to enhance performance and reduce energy consumption. With a 150% revenue increase in the past year and 30 new customers, including Thames Water and NLMK Steel, Samotics aims to expand its market presence and technological capabilities. This investment supports heavy industries in achieving net-zero targets while addressing significant energy wastage.
ConnexPay has secured $20 million in Series B funding led by Marqeta (NASDAQ:MQ), increasing total funding to $35 million. This marks Marqeta's first investment post-IPO in June 2021. ConnexPay aims to enhance its platform for online marketplaces and expand into Europe, targeting significant revenue growth of 5x in 2022. The investment will also support technology development for multi-currency and language capabilities. ConnexPay connects merchant acquiring and card issuing, simplifying payment processes for its customers.
Marqeta (NASDAQ: MQ) has expanded its partnership with Klarna, entering 13 new European markets, including the UK, Germany, and France. This move follows a successful collaboration that started in the US in 2018 and has now seen a significant increase in transactions, with a 340% year-over-year rise in Q3 2021. The partnership leverages Marqeta’s modern card issuing platform, enabling Klarna to enhance its payments capabilities. This expansion marks a substantial growth opportunity for Marqeta in the European market.
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