Payment Platform Marqeta Raises $45 Million From Goldman, Iconiq

Mobile payment platforms making gains.

Marqeta Inc. may never be a household name, but its behind-the-scenes payments services have attracted plenty of attention. The fintech startup announced Tuesday that it is raising $45 million from investors including Iconiq Capital, the family office with investors including Jack Dorsey and Mark Zuckerberg, and Goldman Sachs Group Inc.’s investment bank.

Marqeta, whose platform powers prepaid debit and credit cards, has been able to ride the wave of growth in the multi-trillion dollar payments market. Payment volume at the firm has more than doubled in last six months and its virtual card business is on pace to grow four times this year, according to a person familiar with the matter, who was not authorized to speak about company financials.

The Oakland, California-based company’s new round includes Iconiq and Goldman, along with two previous investors. The cash influx brings Marqeta’s total funding to $116 million.