FinTech unicorn Marqeta prepares for IPO

Rumours about Marqeta going public have found new energy as sources say the payment card issuing startup is in talks with investment banks for an initial public offering (IPO).

Speculation about Marqeta going public has circulated for a while, especially since the company bagged a $4.3bn valuation on the back of a $150m funding round in May.

Now those rumours could soon become reality as sources familiar with the matter told Reuters that Marqeta is searching for investment banks to help it with a potential IPO.

The source told Reuters that the FinTech was planning to interview investment banks about their role in the IPO, which the source said Marqeta was planning on having later this year or at the start of 2021.

Marqeta was founded in 2010 and is backed by companies like Goldman Sachs and Visa. The company currently operates in the US, Canada, Europe and Asia-Pacific.

The news about the potential IPO comes after InsurTech Lemonade went public the other week, seeing the price of its shares soar by 138%, whereas both nCino and RoboCash have both announced plans follow in Lemonade’s footsteps soon.

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